Private Advisor Group LLC Invests $99,000 in McEwen Mining Inc (NYSE:MUX)

Private Advisor Group LLC purchased a new stake in shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,645 shares of the basic materials company’s stock, valued at approximately $99,000.

Other large investors have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in shares of McEwen Mining by 3.3% in the 2nd quarter. Van ECK Associates Corp now owns 2,118,520 shares of the basic materials company’s stock valued at $19,448,000 after purchasing an additional 67,885 shares during the last quarter. Vanguard Group Inc. lifted its holdings in McEwen Mining by 1.0% in the first quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock valued at $6,074,000 after buying an additional 6,082 shares during the period. Renaissance Technologies LLC boosted its stake in McEwen Mining by 41.3% in the second quarter. Renaissance Technologies LLC now owns 196,910 shares of the basic materials company’s stock valued at $1,808,000 after acquiring an additional 57,600 shares during the last quarter. Tidal Investments LLC acquired a new stake in McEwen Mining during the 1st quarter worth $1,348,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of McEwen Mining during the 1st quarter valued at $1,023,000. Institutional investors and hedge funds own 17.03% of the company’s stock.

McEwen Mining Price Performance

Shares of MUX stock opened at $8.91 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. McEwen Mining Inc has a 12-month low of $5.92 and a 12-month high of $12.50. The firm has a fifty day moving average of $9.56 and a 200-day moving average of $9.93. The firm has a market capitalization of $471.56 million, a price-to-earnings ratio of 4.07 and a beta of 1.43.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The business had revenue of $52.25 million during the quarter, compared to analyst estimates of $48.60 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. During the same period in the previous year, the firm posted ($0.39) earnings per share. On average, equities research analysts forecast that McEwen Mining Inc will post -0.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Roth Mkm reduced their price target on McEwen Mining from $12.75 to $12.25 and set a “buy” rating on the stock in a research report on Thursday. HC Wainwright raised their target price on McEwen Mining from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday. Finally, StockNews.com raised McEwen Mining from a “sell” rating to a “hold” rating in a research note on Wednesday.

McEwen Mining 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.