Nomura Holdings Inc. Sells 148,219 Shares of McEwen Inc. $MUX

Nomura Holdings Inc. cut its holdings in McEwen Inc. (NYSE:MUX) (TSE:MUX) by 16.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 768,949 shares of the basic materials company’s stock after selling 148,219 shares during the period. Nomura Holdings Inc. owned about 1.42% of McEwen worth $7,390,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MUX. Tower Research Capital LLC TRC grew its position in McEwen by 17,204.9% in the second quarter. Tower Research Capital LLC TRC now owns 10,556 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 10,495 shares in the last quarter. Pale Fire Capital SE bought a new position in shares of McEwen in the 2nd quarter valued at about $119,000. Everstar Asset Management LLC acquired a new stake in shares of McEwen in the first quarter valued at about $128,000. XTX Topco Ltd bought a new stake in McEwen during the second quarter worth about $141,000. Finally, PharVision Advisers LLC bought a new stake in McEwen during the second quarter worth about $154,000. Institutional investors own 17.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MUX shares. Roth Capital set a $23.00 price target on McEwen in a research report on Thursday, October 9th. Canaccord Genuity Group set a $25.00 target price on shares of McEwen and gave the company a “buy” rating in a research note on Wednesday, October 15th. HC Wainwright boosted their price objective on shares of McEwen from $17.00 to $21.50 and gave the stock a “buy” rating in a research note on Friday, October 10th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of McEwen in a research note on Monday, December 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.50.

McEwen Trading Down 0.7%

Shares of McEwen stock opened at $18.91 on Tuesday. The firm’s 50-day moving average price is $18.56 and its two-hundred day moving average price is $14.01. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -85.95 and a beta of 1.06. The company has a quick ratio of 1.58, a current ratio of 2.10 and a debt-to-equity ratio of 0.26. McEwen Inc. has a 12-month low of $6.38 and a 12-month high of $24.88.

McEwen (NYSE:MUX) (TSE:MUX) last issued its earnings results on Wednesday, November 5th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.32). The business had revenue of $50.53 million during the quarter, compared to analyst estimates of $60.00 million. McEwen had a negative net margin of 7.16% and a negative return on equity of 2.45%. On average, analysts forecast that McEwen Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Activity at McEwen

In other McEwen news, VP Stephan Michael Spears sold 12,600 shares of the company’s stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $14.35, for a total value of $180,810.00. Following the completion of the transaction, the vice president owned 3,814 shares of the company’s stock, valued at $54,730.90. This represents a 76.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard W. Brissenden sold 11,203 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $14.89, for a total value of $166,812.67. Following the completion of the transaction, the director owned 9,405 shares of the company’s stock, valued at $140,040.45. This represents a 54.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 87,136 shares of company stock valued at $1,263,651 over the last three months. 16.10% of the stock is currently owned by corporate insiders.

McEwen 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.