Bridgeway Capital Management LLC Makes New $2.11 Million Investment in McEwen Mining Inc (NYSE:MUX)

Bridgeway Capital Management LLC purchased a new position in shares of McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 271,300 shares of the basic materials company's stock, valued at approximately $2,111,000. Bridgeway Capital Management LLC owned approximately 0.51% of McEwen Mining as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC acquired a new stake in shares of McEwen Mining during the fourth quarter worth $38,000. Aquatic Capital Management LLC raised its stake in shares of McEwen Mining by 357.9% during the 4th quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company's stock worth $57,000 after purchasing an additional 5,727 shares in the last quarter. Private Advisor Group LLC grew its position in shares of McEwen Mining by 18.8% in the 4th quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company's stock valued at $98,000 after acquiring an additional 2,000 shares during the period. Sprott Inc. acquired a new position in McEwen Mining during the fourth quarter worth approximately $100,000. Finally, National Bank of Canada FI raised its stake in McEwen Mining by 12,910.1% in the 4th quarter. National Bank of Canada FI now owns 14,181 shares of the basic materials company's stock valued at $110,000 after acquiring an additional 14,072 shares during the period. 17.03% of the stock is currently owned by institutional investors.

McEwen Mining Trading Down 2.3%

NYSE MUX traded down $0.18 on Monday, reaching $7.29. The company had a trading volume of 975,656 shares, compared to its average volume of 695,130. The firm has a market cap of $393.30 million, a price-to-earnings ratio of 3.33 and a beta of 0.93. McEwen Mining Inc has a fifty-two week low of $6.38 and a fifty-two week high of $12.45. The business has a 50 day moving average of $7.60 and a two-hundred day moving average of $8.01. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The company had revenue of $35.70 million during the quarter, compared to analysts' expectations of $39.06 million. Analysts forecast that McEwen Mining Inc will post -0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MUX shares. National Bank Financial raised McEwen Mining to a "strong-buy" rating in a research report on Tuesday, April 29th. Roth Mkm dropped their price objective on McEwen Mining from $13.00 to $12.50 and set a "buy" rating for the company in a research report on Friday, March 21st. StockNews.com downgraded shares of McEwen Mining from a "hold" rating to a "sell" rating in a report on Wednesday, February 19th. Finally, HC Wainwright dropped their price objective on shares of McEwen Mining from $18.00 to $15.50 and set a "buy" rating for the company in a report on Friday.

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.