Marathon Trading Investment Management LLC Purchases New Position in McEwen Inc. $MUX

Marathon Trading Investment Management LLC purchased a new stake in McEwen Inc. (NYSE:MUX) (TSE:MUX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 190,300 shares of the basic materials company’s stock, valued at approximately $3,522,000. McEwen makes up about 0.1% of Marathon Trading Investment Management LLC’s portfolio, making the stock its 17th biggest holding. Marathon Trading Investment Management LLC owned 0.35% of McEwen at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MUX. Parkside Financial Bank & Trust bought a new position in McEwen in the 4th quarter valued at about $37,000. Banque Cantonale Vaudoise bought a new position in shares of McEwen during the 4th quarter worth approximately $40,000. National Bank of Canada FI lifted its position in shares of McEwen by 3,328.3% during the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock worth $62,000 after buying an additional 3,528 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of McEwen by 330.7% during the 4th quarter. Wells Fargo & Company MN now owns 4,105 shares of the basic materials company’s stock worth $76,000 after buying an additional 3,152 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of McEwen by 17,204.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,556 shares of the basic materials company’s stock worth $101,000 after buying an additional 10,495 shares in the last quarter. Institutional investors own 17.03% of the company’s stock.

McEwen Trading Up 0.2%

Shares of MUX stock opened at $18.95 on Monday. The company has a 50 day moving average of $22.27 and a 200-day moving average of $22.26. The company has a quick ratio of 0.81, a current ratio of 1.14 and a debt-to-equity ratio of 0.19. McEwen Inc. has a 12-month low of $8.95 and a 12-month high of $29.70. The firm has a market cap of $1.13 billion, a P/E ratio of 16.06 and a beta of 1.18.

McEwen (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings results on Thursday, March 12th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.41. McEwen had a net margin of 31.40% and a return on equity of 13.65%. The company had revenue of $64.60 million during the quarter, compared to analyst estimates of $72.83 million. Sell-side analysts anticipate that McEwen Inc. will post 1.01 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on MUX. Roth Mkm lifted their target price on shares of McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. HC Wainwright lifted their target price on shares of McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Zacks Research raised shares of McEwen from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings cut shares of McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Finally, Wall Street Zen cut shares of McEwen from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.