Parametric Portfolio Associates LLC Boosts Stake in McEwen Mining Inc. (MUX)
Parametric Portfolio Associates LLC increased its position in McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) by 1.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 42,368 shares of the basic materials company’s stock after buying an additional 589 shares during the period. Parametric Portfolio Associates LLC’s holdings in McEwen Mining were worth $129,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Suntrust Banks Inc. boosted its stake in 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 in the last quarter. Smith Affiliated Capital Corp. boosted its stake 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. Bank of Montreal Can boosted its stake in McEwen Mining by 0.8% in the first quarter. Bank of Montreal Can now owns 1,479,028 shares of the basic materials company’s stock valued at $4,497,000 after buying an additional 11,143 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in McEwen Mining during the fourth quarter valued at approximately $106,000. Finally, Karp Capital Management Corp acquired a new stake in McEwen Mining during the first quarter valued at approximately $110,000. Institutional investors and hedge funds own 31.82% of the company’s stock.
McEwen Mining Inc. (MUX) opened at 2.25 on Thursday. The firm’s 50-day moving average price is $2.56 and its 200-day moving average price is $3.04. The company’s market capitalization is $702.62 million. McEwen Mining Inc. has a 52 week low of $2.15 and a 52 week high of $4.81.
The business also recently disclosed a special dividend, which will be paid on Thursday, August 17th. Investors of record on Friday, August 4th will be given a $0.005 dividend. The ex-dividend date of this dividend is Wednesday, August 2nd. McEwen Mining’s dividend payout ratio (DPR) is presently -50.00%.
MUX has been the topic of several analyst reports. Zacks Investment Research upgraded McEwen Mining from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a research report on Saturday, April 22nd. TheStreet cut McEwen Mining from a “c” rating to a “d+” rating in a research report on Monday, May 8th. ValuEngine cut McEwen Mining from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. BidaskClub cut McEwen Mining from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 6th. Finally, HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of McEwen Mining in a research report on Tuesday, July 18th. Three analysts have rated the stock with a sell rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price 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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