Barometer Capital Management Inc. Takes Position in McEwen Inc. $MUX

Barometer Capital Management Inc. acquired a new stake in shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,000 shares of the basic materials company’s stock, valued at approximately $428,000.

Other large investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new stake in McEwen during the third quarter valued at approximately $27,000. Tower Research Capital LLC TRC lifted its holdings in shares of 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 valued at $101,000 after purchasing an additional 10,495 shares during the last quarter. Pale Fire Capital SE purchased a new stake in shares of McEwen during the 2nd quarter valued at $119,000. XTX Topco Ltd acquired a new stake in shares of McEwen in the 2nd quarter worth $141,000. Finally, PharVision Advisers LLC purchased a new position in McEwen during the 2nd quarter worth $154,000. 17.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MUX has been the subject of several recent analyst reports. Roth Mkm reissued a “buy” rating and issued a $30.00 price target (up from $23.00) on shares of McEwen in a report on Friday, January 30th. Weiss Ratings restated a “sell (d+)” rating on shares of McEwen in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

McEwen Trading Down 3.9%

McEwen stock opened at $24.80 on Thursday. The stock has a 50-day moving average price of $24.60 and a 200 day moving average price of $19.76. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -112.70 and a beta of 1.11. McEwen Inc. has a 52 week low of $6.38 and a 52 week high of $29.70. The company has a quick ratio of 1.58, a current ratio of 2.10 and a debt-to-equity ratio of 0.26.

About McEwen

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.