BNP Paribas Financial Markets Makes New Investment in McEwen Mining Inc (NYSE:MUX)

BNP Paribas Financial Markets acquired a new stake in shares of McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 99,729 shares of the basic materials company's stock, valued at approximately $776,000. BNP Paribas Financial Markets owned about 0.19% of McEwen Mining at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

MUX has been the subject of a number of analyst reports. Wall Street Zen cut shares of McEwen Mining from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. HC Wainwright lowered their price objective on McEwen Mining from $18.00 to $15.50 and set a "buy" rating for the company in a research note on Friday, May 9th. Roth Mkm dropped their price target on shares of McEwen Mining from $13.00 to $12.50 and set a "buy" rating for the company in a research note on Friday, March 21st. Finally, National Bank Financial raised shares of McEwen Mining to a "strong-buy" rating in a research note on Tuesday, April 29th.

McEwen Mining Stock Performance

MUX stock traded up $0.15 during midday trading on Wednesday, hitting $8.21. 58,989 shares of the stock traded hands, compared to its average volume of 686,199. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. The firm has a market cap of $443.24 million, a P/E ratio of 3.74 and a beta of 0.93. McEwen Mining Inc has a 1-year low of $6.38 and a 1-year high of $12.45. The stock's fifty day simple moving average is $7.59 and its 200-day simple moving average is $7.87.

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

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.