Brookwood Investment Group LLC Buys New Position in McEwen Inc. $MUX

Brookwood Investment Group LLC acquired a new position in shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 30,215 shares of the basic materials company’s stock, valued at approximately $559,000. Brookwood Investment Group LLC owned about 0.06% of McEwen as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC purchased a new stake in McEwen during the 3rd quarter worth approximately $27,000. National Bank of Canada FI increased its holdings in McEwen by 3,328.3% during the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 3,528 shares during the last quarter. Tower Research Capital LLC TRC increased 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 purchasing an additional 10,495 shares during the last quarter. XTX Topco Ltd purchased a new stake in McEwen during the 2nd quarter worth approximately $141,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in McEwen during the 3rd quarter worth approximately $255,000. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

McEwen Price Performance

Shares of MUX opened at $23.05 on Friday. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 39.07 and a beta of 1.28. The stock has a 50 day moving average of $23.61 and a 200-day moving average of $20.92. The company has a current ratio of 1.69, a quick ratio of 1.27 and a debt-to-equity ratio of 0.23. McEwen Inc. has a 52 week low of $6.88 and a 52 week high of $29.70.

McEwen (NYSE:MUX) (TSE:MUX) last issued its earnings results on Thursday, March 12th. The basic materials company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.25 by $0.41. McEwen had a return on equity of 6.89% and a net margin of 17.43%.The company had revenue of $64.60 million during the quarter, compared to analyst estimates of $72.83 million. As a group, analysts forecast that McEwen Inc. will post -0.72 EPS for the current year.

Analyst Ratings Changes

MUX has been the topic of several analyst reports. HC Wainwright lifted their price objective on McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Wall Street Zen downgraded McEwen from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Roth Mkm lifted their price objective on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, March 18th. Finally, Weiss Ratings upgraded McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 11th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.83.

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.