Sigma Planning Corp Purchases New Holdings in McEwen Mining Inc (NYSE:MUX)

Sigma Planning Corp purchased a new stake in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 592,549 shares of the basic materials company’s stock, valued at approximately $1,037,000.

A number of other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC increased its position in McEwen Mining by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 1,879,565 shares of the basic materials company’s stock valued at $3,420,000 after acquiring an additional 116,048 shares during the period. Deutsche Bank AG boosted its holdings in McEwen Mining by 5,370.5% in the 4th quarter. Deutsche Bank AG now owns 1,817,955 shares of the basic materials company’s stock valued at $3,308,000 after purchasing an additional 1,784,723 shares in the last quarter. Alps Advisors Inc. boosted its holdings in McEwen Mining by 17.6% in the 1st quarter. Alps Advisors Inc. now owns 1,596,357 shares of the basic materials company’s stock valued at $2,395,000 after purchasing an additional 238,890 shares in the last quarter. CIBC World Markets Inc. boosted its holdings in McEwen Mining by 851.2% in the 1st quarter. CIBC World Markets Inc. now owns 1,017,215 shares of the basic materials company’s stock valued at $1,526,000 after purchasing an additional 910,279 shares in the last quarter. Finally, ETF Managers Group LLC boosted its holdings in McEwen Mining by 12.4% in the 1st quarter. ETF Managers Group LLC now owns 616,366 shares of the basic materials company’s stock valued at $925,000 after purchasing an additional 67,842 shares in the last quarter. Hedge funds and other institutional investors own 25.23% of the company’s stock.

A number of equities research analysts have weighed in on MUX shares. Zacks Investment Research lowered McEwen Mining from a “hold” rating to a “sell” rating in a report on Tuesday, July 23rd. ValuEngine raised McEwen Mining from a “hold” rating to a “buy” rating in a report on Monday, June 17th. Finally, HC Wainwright set a $3.00 price objective on McEwen Mining and gave the company a “buy” rating in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $3.00.

MUX traded down $0.10 during trading on Friday, reaching $1.75. The company’s stock had a trading volume of 3,830,600 shares, compared to its average volume of 4,023,995. McEwen Mining Inc has a 52-week low of $1.23 and a 52-week high of $2.44. The company’s fifty day moving average price is $1.82 and its 200-day moving average price is $1.64. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.90 and a quick ratio of 0.94.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings data on Tuesday, July 30th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.03). McEwen Mining had a negative net margin of 55.09% and a negative return on equity of 11.81%. The business had revenue of $36.38 million during the quarter, compared to analysts’ expectations of $34.92 million. Research analysts anticipate that McEwen Mining Inc will post -0.08 earnings per share for the current year.

In other news, Director Richard W. Brissenden sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $2.01, for a total transaction of $50,250.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 22.70% of the stock is currently owned by insiders.

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.

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Institutional Ownership by Quarter for McEwen Mining (NYSE:MUX)

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