McEwen Mining Inc (NYSE:MUX) CFO Perry Ing Sells 23,332 Shares

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) CFO Perry Ing sold 23,332 shares of McEwen Mining stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $9.76, for a total transaction of $227,720.32. Following the completion of the sale, the chief financial officer now directly owns 15,551 shares of the company’s stock, valued at $151,777.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

McEwen Mining Trading Up 0.4 %

NYSE:MUX opened at $9.75 on Wednesday. McEwen Mining Inc has a one year low of $5.92 and a one year high of $12.50. The company has a market cap of $481.75 million, a PE ratio of 5.95 and a beta of 1.51. The firm has a 50-day moving average of $11.21 and a 200-day moving average of $8.86. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.37 and a quick ratio of 0.85.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its quarterly earnings results on Wednesday, May 8th. The basic materials company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.38). McEwen Mining had a return on equity of 16.46% and a net margin of 44.83%. The firm had revenue of $41.23 million for the quarter, compared to analysts’ expectations of $39.80 million. As a group, equities research analysts expect that McEwen Mining Inc will post -0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Roth Mkm reissued a “buy” rating and set a $12.00 target price (up from $11.00) on shares of McEwen Mining in a research report on Friday, May 10th. TheStreet raised shares of McEwen Mining from a “d” rating to a “c” rating in a research report on Friday, March 1st. Finally, HC Wainwright boosted their target price on shares of McEwen Mining from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Monday, May 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MUX. Rathbones Group PLC purchased a new position in McEwen Mining in the third quarter valued at about $74,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in McEwen Mining by 175.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 75,611 shares of the basic materials company’s stock valued at $486,000 after acquiring an additional 48,192 shares during the last quarter. Oppenheimer & Close LLC purchased a new position in McEwen Mining in the third quarter valued at about $152,000. Trexquant Investment LP boosted its stake in McEwen Mining by 83.2% in the third quarter. Trexquant Investment LP now owns 90,262 shares of the basic materials company’s stock valued at $587,000 after acquiring an additional 41,000 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in McEwen Mining by 25.2% in the third quarter. Toronto Dominion Bank now owns 25,032 shares of the basic materials company’s stock valued at $163,000 after acquiring an additional 5,032 shares during the last quarter. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

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.