American Century Companies Inc. Acquires 7,492 Shares of McEwen Mining Inc (NYSE:MUX)

American Century Companies Inc. grew its holdings in shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,346 shares of the basic materials company’s stock after purchasing an additional 7,492 shares during the period. American Century Companies Inc. owned about 0.17% of McEwen Mining worth $718,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in McEwen Mining by 5.8% in the third quarter. Geode Capital Management LLC now owns 471,119 shares of the basic materials company’s stock valued at $4,383,000 after purchasing an additional 25,844 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of McEwen Mining by 1.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 399,519 shares of the basic materials company’s stock valued at $3,103,000 after buying an additional 5,800 shares in the last quarter. U S Global Investors Inc. bought a new stake in shares of McEwen Mining during the 4th quarter worth approximately $2,557,000. Tidal Investments LLC lifted its holdings in shares of McEwen Mining by 1.8% during the 3rd quarter. Tidal Investments LLC now owns 152,859 shares of the basic materials company’s stock worth $1,422,000 after acquiring an additional 2,632 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of McEwen Mining during the 4th quarter worth approximately $788,000. 17.03% of the stock is owned by institutional investors.

McEwen Mining Price Performance

MUX stock opened at $7.96 on Friday. The stock has a market cap of $429.27 million, a price-to-earnings ratio of 3.63 and a beta of 1.21. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. The company has a 50 day simple moving average of $7.44 and a 200 day simple moving average of $8.35. McEwen Mining Inc has a 1 year low of $6.38 and a 1 year high of $12.50.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its earnings results on Friday, March 14th. The basic materials company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The company had revenue of $33.52 million for the quarter, compared to the consensus estimate of $32.20 million. Research analysts anticipate that McEwen Mining Inc will post -0.72 EPS for the current fiscal year.

Analyst Ratings Changes

MUX has been the subject of several recent analyst reports. StockNews.com cut McEwen Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, February 19th. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of McEwen Mining in a report on Wednesday, March 19th. Finally, Roth Mkm reduced their price objective on McEwen Mining from $13.00 to $12.50 and set a “buy” rating on the stock in a research note on Friday, March 21st.

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.