McEwen Mining (NYSE:MUX) Stock Rating Lowered by StockNews.com

McEwen Mining (NYSE:MUX) (TSE:MUX) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Several other brokerages have also recently issued reports on MUX. Roth Mkm cut their price target on McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research note on Thursday, November 7th. HC Wainwright lowered their price objective on shares of McEwen Mining from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, January 30th.

McEwen Mining Trading Up 1.8 %

Shares of MUX stock opened at $7.64 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The stock has a market cap of $404.04 million, a P/E ratio of 3.49 and a beta of 1.42. The stock has a 50 day simple moving average of $8.06 and a 200 day simple moving average of $8.78. McEwen Mining has a 1 year low of $5.92 and a 1 year high of $12.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its position in McEwen Mining by 18.8% during the fourth quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company’s stock valued at $98,000 after purchasing an additional 2,000 shares in the last quarter. Tidal Investments LLC raised its position in McEwen Mining by 1.8% during the third quarter. Tidal Investments LLC now owns 152,859 shares of the basic materials company’s stock valued at $1,422,000 after purchasing an additional 2,632 shares in the last quarter. Virtu Financial LLC raised its position in McEwen Mining by 32.3% during the third quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company’s stock valued at $154,000 after purchasing an additional 4,046 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of McEwen Mining during the fourth quarter worth $38,000. Finally, Quarry LP acquired a new position in shares of McEwen Mining during the third quarter worth $51,000. 17.03% of the stock is currently owned by institutional investors and hedge funds.

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.