Mirae Asset Global Investments Co. Ltd. Buys 40,205 Shares of McEwen Mining Inc (NYSE:MUX)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of McEwen Mining Inc (NYSE:MUXFree Report) (TSE:MUX) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,103,550 shares of the basic materials company’s stock after buying an additional 40,205 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 2.23% of McEwen Mining worth $10,881,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Quadrature Capital Ltd purchased a new stake in McEwen Mining during the third quarter valued at about $72,000. Fifth Third Bancorp bought a new position in McEwen Mining during the fourth quarter valued at approximately $98,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of McEwen Mining during the fourth quarter worth approximately $107,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of McEwen Mining in the 4th quarter worth approximately $377,000. Finally, Jump Financial LLC boosted its stake in shares of McEwen Mining by 154.0% in the 4th quarter. Jump Financial LLC now owns 74,263 shares of the basic materials company’s stock valued at $535,000 after purchasing an additional 45,020 shares in the last quarter. 17.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. StockNews.com raised shares of McEwen Mining from a “sell” rating to a “hold” rating in a research note on Thursday, June 27th. Roth Mkm restated a “buy” rating and set a $12.00 target price (up from $11.00) on shares of McEwen Mining in a report on Friday, May 10th. Finally, HC Wainwright lifted their price target on McEwen Mining from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, May 13th.

Read Our Latest Stock Report on MUX

McEwen Mining Stock Performance

McEwen Mining stock opened at $10.11 on Monday. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 0.08. The firm has a market cap of $515.31 million, a P/E ratio of 6.16 and a beta of 1.40. McEwen Mining Inc has a 1-year low of $5.92 and a 1-year high of $12.50. The firm has a 50-day moving average of $10.72 and a 200-day moving average of $9.04.

McEwen Mining (NYSE:MUXGet Free Report) (TSE:MUX) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.38). McEwen Mining had a return on equity of 16.46% and a net margin of 44.83%. The business had revenue of $41.23 million during the quarter, compared to analysts’ expectations of $39.80 million. Sell-side analysts expect that McEwen Mining Inc will post -0.7 EPS for the current year.

Insider Activity at McEwen Mining

In other news, CFO Perry Ing sold 23,332 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $9.76, for a total value of $227,720.32. Following the completion of the sale, the chief financial officer now directly owns 15,551 shares of the company’s stock, valued at approximately $151,777.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other McEwen Mining news, General Counsel Carmen L. Diges sold 17,066 shares of the stock in a transaction on Friday, June 21st. The stock was sold at an average price of $9.44, for a total value of $161,103.04. Following the completion of the transaction, the general counsel now owns 10,982 shares in the company, valued at $103,670.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Perry Ing sold 23,332 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $9.76, for a total transaction of $227,720.32. Following the sale, the chief financial officer now owns 15,551 shares in the company, valued at approximately $151,777.76. The disclosure for this sale can be found here. Insiders have sold a total of 42,901 shares of company stock worth $413,353 over the last quarter. Corporate insiders own 17.11% of the company’s stock.

About McEwen Mining

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for McEwen Mining (NYSE:MUX)

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