Quantbot Technologies LP Grows Stake in McEwen Inc. $MUX

Quantbot Technologies LP lifted its position in McEwen Inc. (NYSE:MUX) (TSE:MUX) by 62.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 131,786 shares of the basic materials company’s stock after purchasing an additional 50,778 shares during the quarter. Quantbot Technologies LP’s holdings in McEwen were worth $2,254,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in McEwen by 19.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,418,023 shares of the basic materials company’s stock worth $13,627,000 after buying an additional 233,266 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of McEwen by 3.1% during 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 last quarter. Tidal Investments LLC boosted its position in shares of McEwen by 4.0% during the 2nd quarter. Tidal Investments LLC now owns 846,440 shares of the basic materials company’s stock valued at $8,134,000 after acquiring an additional 32,218 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of McEwen by 231.6% during the third quarter. JPMorgan Chase & Co. now owns 659,079 shares of the basic materials company’s stock worth $11,270,000 after purchasing an additional 460,308 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of McEwen by 4,309.4% in the first quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company’s stock worth $4,823,000 after purchasing an additional 624,382 shares during the last quarter. Institutional investors own 17.03% of the company’s stock.

McEwen Stock Down 10.1%

Shares of NYSE MUX opened at $25.54 on Wednesday. The stock has a market capitalization of $1.39 billion, a P/E ratio of -116.09 and a beta of 1.11. McEwen Inc. has a one year low of $6.38 and a one year high of $29.70. The firm’s 50 day simple moving average is $23.92 and its two-hundred day simple moving average is $19.22. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.10 and a quick ratio of 1.58.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MUX shares. Roth Mkm reiterated a “buy” rating and set a $30.00 target price (up from $23.00) on shares of McEwen in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of McEwen in a report on Monday, December 29th. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

McEwen Company 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.