Banque Cantonale Vaudoise Invests $78,000 in McEwen Mining Inc (NYSE:MUX)

Banque Cantonale Vaudoise purchased a new position in shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,481 shares of the basic materials company’s stock, valued at approximately $78,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp acquired a new stake in shares of McEwen Mining during the 2nd quarter valued at $32,000. Tidal Investments LLC purchased a new position in McEwen Mining in the first quarter valued at about $1,348,000. Paloma Partners Management Co purchased a new position in McEwen Mining in the first quarter valued at about $117,000. Vanguard Group Inc. increased its position in McEwen Mining by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock worth $6,074,000 after purchasing an additional 6,082 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of McEwen Mining during the 1st quarter worth about $1,023,000. 17.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

McEwen Mining Stock Down 7.0 %

MUX opened at $8.47 on Wednesday. The firm has a market cap of $431.49 million, a P/E ratio of 5.16 and a beta of 1.40. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.21 and a current ratio of 1.68. The business has a 50 day moving average price of $9.27 and a 200 day moving average price of $9.75. McEwen Mining Inc has a twelve month low of $5.92 and a twelve month high of $12.50.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The firm had revenue of $47.48 million for the quarter, compared to the consensus estimate of $43.90 million. McEwen Mining had a return on equity of 18.08% and a net margin of 46.32%. During the same period in the prior year, the company posted ($0.46) earnings per share. Research analysts forecast that McEwen Mining Inc will post -0.81 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MUX shares. StockNews.com downgraded McEwen Mining from a “hold” rating to a “sell” rating in a report on Thursday, July 11th. Roth Mkm restated a “buy” rating and set a $12.00 price target (up previously from $11.00) on shares of McEwen Mining in a report on Friday, May 10th. Finally, HC Wainwright upped their price objective on shares of McEwen Mining from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, May 13th.

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.