McEwen Mining (MUX) Shares Gap Up to $1.98
McEwen Mining Inc (NYSE:MUX) (TSE:MUX) shares gapped up before the market opened on Thursday . The stock had previously closed at $1.93, but opened at $1.98. McEwen Mining shares last traded at $2.00, with a volume of 2587319 shares traded.
MUX has been the subject of a number of research reports. Zacks Investment Research downgraded McEwen Mining from a “hold” rating to a “strong sell” rating in a report on Saturday, August 4th. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of McEwen Mining in a report on Tuesday, July 17th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. McEwen Mining presently has an average rating of “Hold” and an average price target of $4.00.
The company has a market cap of $674.55 million, a price-to-earnings ratio of -66.67 and a beta of -1.25.
The business also recently declared a semiannual dividend, which was paid on Tuesday, September 4th. Shareholders of record on Monday, August 27th were paid a $0.005 dividend. The ex-dividend date was Friday, August 24th. This represents a yield of 0.48%. McEwen Mining’s dividend payout ratio is -33.33%.
A number of hedge funds have recently bought and sold shares of the business. Aperio Group LLC grew its stake in McEwen Mining by 24.5% in the second quarter. Aperio Group LLC now owns 122,524 shares of the basic materials company’s stock valued at $254,000 after purchasing an additional 24,119 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in McEwen Mining by 119.7% in the second quarter. Tower Research Capital LLC TRC now owns 50,664 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 27,600 shares in the last quarter. Renaissance Technologies LLC grew its stake in McEwen Mining by 131.1% in the fourth quarter. Renaissance Technologies LLC now owns 52,000 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 29,500 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in McEwen Mining in the second quarter valued at approximately $109,000. Finally, CIBC World Markets Inc. bought a new position in McEwen Mining in the first quarter valued at approximately $164,000. Hedge funds and other institutional investors own 30.54% of the company’s stock.
About McEwen Mining (NYSE:MUX)
McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. The company owns 100% interests in the El Gallo 1 mine and El Gallo 2 project in the state of Sinaloa, Mexico; and the Black Fox Complex, Buffalo Ankerite, Fuller, Davidson Tisdale, and Black Fox North properties in Canada.
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