Van ECK Associates Corp raised its position in McEwen Mining Inc (NYSE:MUX – Free Report) (TSE:MUX) by 2.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,030,048 shares of the basic materials company’s stock after acquiring an additional 56,698 shares during the period. Van ECK Associates Corp owned approximately 4.27% of McEwen Mining worth $14,637,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in MUX. Mirae Asset Global Investments Co. Ltd. lifted its position in McEwen Mining by 2.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,063,345 shares of the basic materials company’s stock valued at $7,667,000 after purchasing an additional 22,231 shares during the period. Toronto Dominion Bank raised its stake in shares of McEwen Mining by 25.2% during the 3rd quarter. Toronto Dominion Bank now owns 25,032 shares of the basic materials company’s stock worth $163,000 after buying an additional 5,032 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of McEwen Mining in the 3rd quarter valued at approximately $72,000. Fifth Third Bancorp purchased a new stake in shares of McEwen Mining in the fourth quarter valued at approximately $98,000. Finally, Trexquant Investment LP grew its holdings in McEwen Mining by 83.2% during the third quarter. Trexquant Investment LP now owns 90,262 shares of the basic materials company’s stock worth $587,000 after acquiring an additional 41,000 shares during the period. Hedge funds and other institutional investors own 17.03% of the company’s stock.
McEwen Mining Stock Performance
Shares of MUX stock opened at $11.55 on Thursday. The stock has a fifty day moving average price of $9.42 and a 200 day moving average price of $7.91. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.09 and a current ratio of 1.76. The stock has a market cap of $571.03 million, a PE ratio of 10.13 and a beta of 1.48. McEwen Mining Inc has a 1 year low of $5.92 and a 1 year high of $12.50.
Analysts Set New Price Targets
A number of research firms have commented on MUX. HC Wainwright reduced their target price on McEwen Mining from $18.50 to $13.00 and set a “buy” rating for the company in a report on Monday, March 4th. TheStreet upgraded shares of McEwen Mining from a “d” rating to a “c” rating in a report on Friday, March 1st.
Check Out Our Latest Research Report on McEwen Mining
McEwen Mining Company Profile
McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.
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