McEwen Mining Inc. (MUX) Sees Large Volume Increase
McEwen Mining Inc. (NYSE:MUX) saw unusually-strong trading volume on Wednesday . Approximately 3,735,355 shares traded hands during trading, a decline of 3% from the previous session’s volume of 3,845,727 shares.The stock last traded at $3.36 and had previously closed at $3.67.
Separately, Zacks Investment Research raised shares of McEwen Mining from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a report on Thursday, July 28th.
The company has a market capitalization of $1.03 billion and a P/E ratio of 114.33. The company has a 50 day moving average of $4.27 and a 200 day moving average of $2.96.
The firm also recently declared a semiannual dividend, which was paid on Monday, August 29th. Investors of record on Wednesday, August 24th were issued a $0.005 dividend. This represents a yield of 0.23%. The ex-dividend date of this dividend was Monday, August 22nd.
In other McEwen Mining news, President Colin Sutherland purchased 15,166 shares of the stock in a transaction that occurred on Tuesday, June 28th. The stock was purchased at an average cost of $3.55 per share, with a total value of $53,839.30. Following the completion of the acquisition, the president now directly owns 470,000 shares of the company’s stock, valued at approximately $1,668,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO William Alexander Faust sold 150,000 shares of the company’s stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $3.50, for a total value of $525,000.00. Following the completion of the transaction, the chief operating officer now directly owns 150,400 shares of the company’s stock, valued at $526,400. The disclosure for this sale can be found here.
An institutional investor recently raised its position in McEwen Mining stock. Bank of Montreal Can raised its position in shares of McEwen Mining Inc. (NYSE:MUX) by 175.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,049,958 shares of the company’s stock after buying an additional 668,399 shares during the period. Bank of Montreal Can owned approximately 0.35% of McEwen Mining worth $1,113,000 as of its most recent SEC filing.
McEwen Mining Inc is a mining and minerals exploration company. The Company is focused on precious and base metals in Argentina, Mexico and the United States. Its segments include Mexico, Argentina and the United States. It classifies its mineral properties into Production Properties, Advanced-Stage Properties and Exploration Properties.
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