Nicolas Darveau-Garneau Purchases 2,285 Shares of McEwen Mining Inc (NYSE:MUX) Stock

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) Director Nicolas Darveau-Garneau acquired 2,285 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was bought at an average cost of $8.37 per share, for a total transaction of $19,125.45. Following the completion of the purchase, the director now owns 2,285 shares of the company’s stock, valued at $19,125.45. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

McEwen Mining Stock Performance

MUX traded down $0.12 on Tuesday, hitting $8.56. The company’s stock had a trading volume of 313,870 shares, compared to its average volume of 662,761. The company’s 50 day simple moving average is $9.29 and its 200-day simple moving average is $9.49. The company has a quick ratio of 0.74, 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 market cap of $452.73 million, a P/E ratio of 3.96 and a beta of 1.43.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its quarterly 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). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The firm had revenue of $52.25 million during the quarter, compared to analysts’ expectations of $48.60 million. During the same period in the previous year, the company posted ($0.39) earnings per share. Analysts forecast that McEwen Mining Inc will post -0.68 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have commented on MUX shares. HC Wainwright raised their price target on shares of McEwen Mining from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com lowered McEwen Mining from a “hold” rating to a “sell” rating in a research report on Saturday, November 30th. Finally, Roth Mkm cut their price target on McEwen Mining from $12.75 to $12.25 and set a “buy” rating on the stock in a report on Thursday, November 7th.

Hedge Funds Weigh In On McEwen Mining

Institutional investors have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of McEwen Mining by 66.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,719 shares of the basic materials company’s stock worth $3,659,000 after buying an additional 157,300 shares during the period. Renaissance Technologies LLC boosted its position in McEwen Mining by 41.3% during the 2nd quarter. Renaissance Technologies LLC now owns 196,910 shares of the basic materials company’s stock valued at $1,808,000 after buying an additional 57,600 shares during the period. Private Advisor Group LLC purchased a new position in shares of McEwen Mining in the third quarter valued at about $99,000. Van ECK Associates Corp boosted its holdings in shares of McEwen Mining by 3.3% during the second quarter. Van ECK Associates Corp now owns 2,118,520 shares of the basic materials company’s stock worth $19,448,000 after purchasing an additional 67,885 shares during the period. Finally, Vanguard Group Inc. raised its position in McEwen Mining by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock valued at $6,074,000 after purchasing an additional 6,082 shares during the last quarter. 17.03% of the stock is currently owned by institutional investors.

McEwen Mining Company 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.