McEwen Mining Inc. (MUX) Shares Gap Up to $2.83
McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) gapped up before the market opened on Friday . The stock had previously closed at $2.92, but opened at $2.83. McEwen Mining shares last traded at $2.72, with a volume of 2,279,001 shares trading hands.
MUX has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of McEwen Mining from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of McEwen Mining in a report on Tuesday, July 18th. BidaskClub raised shares of McEwen Mining from a “strong sell” rating to a “sell” rating in a report on Saturday, August 12th. ValuEngine lowered shares of McEwen Mining from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, TheStreet raised shares of McEwen Mining from a “d+” rating to a “c” rating in a report on Friday, June 16th. Three equities research analysts have rated the stock with a sell rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $4.25.
The firm has a 50-day moving average of $2.48 and a 200 day moving average of $2.81. The company’s market capitalization is $883.74 million.
The business also recently announced a special dividend, which was paid on Thursday, August 17th. Investors of record on Friday, August 4th were given a dividend of $0.005 per share. The ex-dividend date of this dividend was Wednesday, August 2nd. McEwen Mining’s dividend payout ratio (DPR) is currently -50.00%.
Hedge funds have recently made changes to their positions in the stock. D L Carlson Investment Group Inc. increased its position in McEwen Mining by 107.8% during the second quarter. D L Carlson Investment Group Inc. now owns 38,588 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 20,018 shares during the period. Profund Advisors LLC increased its position in McEwen Mining by 0.9% during the second quarter. Profund Advisors LLC now owns 39,122 shares of the basic materials company’s stock worth $103,000 after acquiring an additional 366 shares during the period. Suntrust Banks Inc. increased its position in McEwen Mining by 2.7% during the first quarter. Suntrust Banks Inc. now owns 35,564 shares of the basic materials company’s stock worth $108,000 after acquiring an additional 946 shares during the period. Karp Capital Management Corp bought a new position in McEwen Mining during the first quarter worth $110,000. Finally, Two Sigma Securities LLC bought a new position in McEwen Mining during the first quarter worth $125,000. 29.31% of the stock is currently owned by institutional investors and hedge funds.
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.