Jefferies Financial Group Inc. Purchases New Stake in McEwen Inc. (NYSE:MUX)

Jefferies Financial Group Inc. purchased a new stake in shares of McEwen Inc. (NYSE:MUX - Free Report) TSE: MUX in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 72,210 shares of the basic materials company's stock, valued at approximately $545,000. Jefferies Financial Group Inc. owned approximately 0.13% of McEwen as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of MUX. American Century Companies Inc. grew its stake in McEwen by 8.8% in the fourth quarter. American Century Companies Inc. now owns 92,346 shares of the basic materials company's stock valued at $718,000 after purchasing an additional 7,492 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of McEwen by 282,420.0% in the fourth quarter. JPMorgan Chase & Co. now owns 42,378 shares of the basic materials company's stock worth $330,000 after purchasing an additional 42,363 shares during the last quarter. Norges Bank purchased a new stake in shares of McEwen in the 4th quarter valued at $421,000. National Bank of Canada FI grew its position in McEwen by 12,910.1% during the 4th quarter. National Bank of Canada FI now owns 14,181 shares of the basic materials company's stock worth $110,000 after purchasing an additional 14,072 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in McEwen by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 484,792 shares of the basic materials company's stock valued at $3,774,000 after acquiring an additional 13,673 shares during the period. Institutional investors own 17.03% of the company's stock.

McEwen Price Performance

NYSE MUX traded down $0.05 on Thursday, hitting $10.74. The company had a trading volume of 1,180,416 shares, compared to its average volume of 748,943. The company has a market capitalization of $579.58 million, a PE ratio of -42.94 and a beta of 0.88. The company's fifty day moving average price is $10.19 and its 200-day moving average price is $8.52. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.89. McEwen Inc. has a 12-month low of $6.38 and a 12-month high of $11.80.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last posted its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $46.70 million for the quarter, compared to analysts' expectations of $49.05 million. McEwen had a negative net margin of 8.05% and a negative return on equity of 2.75%. As a group, analysts predict that McEwen Inc. will post -0.72 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MUX shares. Roth Capital set a $15.00 target price on shares of McEwen and gave the company a "buy" rating in a report on Tuesday, July 1st. Wall Street Zen lowered shares of McEwen from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. National Bankshares reiterated an "outperform" rating on shares of McEwen in a research report on Wednesday, July 16th. National Bank Financial upgraded McEwen to a "strong-buy" rating in a research report on Tuesday, April 29th. Finally, HC Wainwright lifted their price target on McEwen from $15.50 to $17.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $14.83.

About McEwen

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.