Rothschild Wealth LLC Takes $1.66 Million Position in McEwen Inc. $MUX

Rothschild Wealth LLC purchased a new stake in McEwen Inc. (NYSE:MUX) (TSE:MUX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 89,470 shares of the basic materials company’s stock, valued at approximately $1,656,000. Rothschild Wealth LLC owned 0.16% of McEwen as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp raised its stake in shares of McEwen by 24.4% in the 4th quarter. State Street Corp now owns 2,190,605 shares of the basic materials company’s stock valued at $40,548,000 after acquiring an additional 429,761 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of McEwen by 38.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,959,913 shares of the basic materials company’s stock valued at $33,515,000 after acquiring an additional 541,890 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of McEwen by 1.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,285,603 shares of the basic materials company’s stock valued at $21,982,000 after acquiring an additional 15,439 shares during the period. BNP Paribas Financial Markets raised its stake in shares of McEwen by 56.3% in the 4th quarter. BNP Paribas Financial Markets now owns 1,001,596 shares of the basic materials company’s stock valued at $18,540,000 after acquiring an additional 360,857 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of McEwen by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 884,347 shares of the basic materials company’s stock valued at $15,122,000 after acquiring an additional 26,846 shares during the period. 17.03% of the stock is owned by hedge funds and other institutional investors.

McEwen Price Performance

Shares of MUX opened at $20.33 on Wednesday. McEwen Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $29.70. The firm’s 50 day moving average price is $22.22 and its 200 day moving average price is $22.29. The company has a market cap of $1.21 billion, a P/E ratio of 17.22 and a beta of 1.17. The company has a quick ratio of 0.81, a current ratio of 1.14 and a debt-to-equity ratio of 0.19.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MUX shares. HC Wainwright upped their target price on shares of McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Roth Mkm upped their target price on shares of McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Zacks Research raised shares of McEwen from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings downgraded shares of McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Finally, Wall Street Zen downgraded shares of McEwen from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.83.

McEwen Profile

McEwen Mining Inc (NYSE: MUX) is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company’s flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.