Bank of America Corp DE Grows Stock Position in McEwen Mining Inc (NYSE:MUX)

Bank of America Corp DE raised its stake in McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 74.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,080 shares of the basic materials company's stock after acquiring an additional 49,301 shares during the period. Bank of America Corp DE owned 0.22% of McEwen Mining worth $895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the business. New Age Alpha Advisors LLC purchased a new stake in McEwen Mining in the 4th quarter worth approximately $38,000. Aquatic Capital Management LLC boosted its stake in 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 valued at $57,000 after purchasing an additional 5,727 shares during the period. Private Advisor Group LLC lifted its stake 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 worth $98,000 after acquiring an additional 2,000 shares during the period. Sprott Inc. acquired a new stake in McEwen Mining during the fourth quarter valued at approximately $100,000. Finally, National Bank of Canada FI lifted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 17.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. National Bank Financial upgraded shares of McEwen Mining to a "strong-buy" rating in a research note on Tuesday, April 29th. Wall Street Zen lowered shares of McEwen Mining from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Roth Mkm lowered their price objective on shares of McEwen Mining from $13.00 to $12.50 and set a "buy" rating on the stock in a report on Friday, March 21st. Finally, HC Wainwright decreased their price objective on shares of McEwen Mining from $18.00 to $15.50 and set a "buy" rating on the stock in a report on Friday, May 9th.

McEwen Mining Stock Up 0.0%

Shares of MUX traded up $0.00 during trading hours on Wednesday, reaching $9.27. The stock had a trading volume of 615,212 shares, compared to its average volume of 686,123. 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 company has a market capitalization of $500.58 million, a price-to-earnings ratio of 4.23 and a beta of 0.95. The firm has a 50-day simple moving average of $7.87 and a 200 day simple moving average of $7.91. McEwen Mining Inc has a 12 month low of $6.38 and a 12 month high of $11.39.

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

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.