BNP Paribas Financial Markets Invests $776,000 in McEwen Mining Inc (NYSE:MUX)

BNP Paribas Financial Markets purchased a new position in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 99,729 shares of the basic materials company’s stock, valued at approximately $776,000. BNP Paribas Financial Markets owned approximately 0.19% of McEwen Mining at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of McEwen Mining by 369.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 556,718 shares of the basic materials company’s stock valued at $4,331,000 after acquiring an additional 438,088 shares in the last quarter. Geode Capital Management LLC grew its position in McEwen Mining by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 484,792 shares of the basic materials company’s stock valued at $3,774,000 after purchasing an additional 13,673 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in McEwen Mining by 1.5% during 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 purchasing an additional 5,800 shares in the last quarter. U S Global Investors Inc. purchased a new position in McEwen Mining in the fourth quarter worth about $2,557,000. Finally, Invesco Ltd. lifted its stake in shares of McEwen Mining by 8.6% in the fourth quarter. Invesco Ltd. now owns 254,431 shares of the basic materials company’s stock worth $1,979,000 after buying an additional 20,200 shares in the last quarter. 17.03% of the stock is owned by hedge funds and other institutional investors.

McEwen Mining Stock Performance

Shares of MUX stock opened at $7.66 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average price of $7.60 and a 200-day moving average price of $7.90. McEwen Mining Inc has a 52 week low of $6.38 and a 52 week high of $12.45. The firm has a market capitalization of $413.55 million, a PE ratio of 3.50 and a beta of 0.93.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.02. The company had revenue of $35.70 million for the quarter, compared to analysts’ expectations of $39.06 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. As a group, equities research analysts expect that McEwen Mining Inc will post -0.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MUX shares. Roth Mkm cut their price target on shares of McEwen Mining from $13.00 to $12.50 and set a “buy” rating on the stock in a report on Friday, March 21st. HC Wainwright cut their target price on McEwen Mining from $18.00 to $15.50 and set a “buy” rating on the stock in a research note on Friday, May 9th. National Bank Financial upgraded McEwen Mining to a “strong-buy” rating in a research note on Tuesday, April 29th. Finally, Wall Street Zen downgraded McEwen Mining from a “hold” rating to a “sell” rating in a report on Thursday.

About McEwen Mining

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.