McEwen Mining Inc. (NYSE:MUX) Position Cut by State Street Corp
State Street Corp cut its stake in shares of McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) by 31.8% during the first quarter, Holdings Channel reports. The firm owned 7,366,401 shares of the basic materials company’s stock after selling 3,431,998 shares during the period. State Street Corp’s holdings in McEwen Mining were worth $22,393,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Suntrust Banks Inc. increased its stake in shares of McEwen Mining by 2.7% in the first quarter. Suntrust Banks Inc. now owns 35,564 shares of the basic materials company’s stock valued at $108,000 after buying an additional 946 shares during the period. Highbridge Capital Management LLC bought a new position in McEwen Mining during the fourth quarter valued at $106,000. Karp Capital Management Corp bought a new position in McEwen Mining during the first quarter valued at $110,000. Smith Affiliated Capital Corp. boosted its position in McEwen Mining by 35.6% in the first quarter. Smith Affiliated Capital Corp. now owns 40,000 shares of the basic materials company’s stock valued at $122,000 after buying an additional 10,500 shares in the last quarter. Finally, Two Sigma Securities LLC bought a new position in McEwen Mining during the first quarter valued at $125,000. Institutional investors and hedge funds own 31.82% of the company’s stock.
McEwen Mining Inc. (NYSE MUX) traded up 1.56% on Thursday, reaching $2.28. 1,012,451 shares of the company’s stock traded hands. The stock’s market cap is $711.99 million. McEwen Mining Inc. has a 52-week low of $2.15 and a 52-week high of $4.81. The company’s 50 day moving average is $2.56 and its 200-day moving average is $3.04.
The company also recently declared a special dividend, which will be paid on Thursday, August 17th. Investors of record on Friday, August 4th will be issued a dividend of $0.005 per share. The ex-dividend date is Wednesday, August 2nd. McEwen Mining’s dividend payout ratio (DPR) is presently -50.00%.
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Several research firms have weighed in on MUX. Zacks Investment Research cut shares of McEwen Mining from a “hold” rating to a “sell” rating in a report on Friday, July 21st. HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of McEwen Mining in a report on Tuesday, July 18th. BidaskClub cut shares of McEwen Mining from a “sell” rating to a “strong sell” rating in a report on Thursday, July 6th. TheStreet raised shares of McEwen Mining from a “d+” rating to a “c” rating in a report on Friday, June 16th. Finally, ValuEngine cut shares of McEwen Mining from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Three research analysts have rated the stock with a sell rating and one has issued a buy rating to the company’s stock. McEwen Mining presently has a consensus rating of “Hold” and a consensus price target of $4.25.
McEwen Mining Company Profile
McEwen Mining Inc is a mining and minerals production and exploration company. The Company is focused on precious and base metals in Argentina, Mexico and the United States. The Company’s segments include Mexico, Minera Santa Cruz SA (MSC), Nevada and Los Azules. The Mexico Operations segment includes properties, such as El Gallo 1 mine and the El Gallo 2 project.
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