McEwen Inc. $MUX Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. lessened its position in shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) by 6.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 743,747 shares of the basic materials company’s stock after selling 47,224 shares during the period. Alps Advisors Inc. owned about 1.37% of McEwen worth $12,718,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MUX. CoreCap Advisors LLC acquired a new position in shares of McEwen during the third quarter worth $27,000. Tower Research Capital LLC TRC lifted its holdings in McEwen by 17,204.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 10,556 shares of the basic materials company’s stock worth $101,000 after buying an additional 10,495 shares during the last quarter. Pale Fire Capital SE purchased a new stake in McEwen during the 2nd quarter worth about $119,000. XTX Topco Ltd acquired a new position in shares of McEwen during the 2nd quarter worth about $141,000. Finally, PharVision Advisers LLC purchased a new position in shares of McEwen in the 2nd quarter valued at about $154,000. 17.03% of the stock is currently owned by institutional investors and hedge funds.

McEwen Stock Performance

Shares of McEwen stock opened at $25.25 on Monday. The firm’s fifty day simple moving average is $21.42 and its 200-day simple moving average is $17.34. McEwen Inc. has a 12 month low of $6.38 and a 12 month high of $29.70. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.10 and a quick ratio of 1.58. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -114.77 and a beta of 1.12.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Roth Mkm restated a “buy” rating and set a $30.00 target price (up previously from $23.00) on shares of McEwen in a research note on Friday, January 30th. Weiss Ratings restated a “sell (d+)” rating on shares of McEwen in a research report on Monday, December 29th. Finally, Canaccord Genuity Group set a $25.00 target price on shares of McEwen and gave the company a “buy” rating in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.50.

McEwen Company Profile

McEwen Mining Inc (NYSE: MUX) is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company’s flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.