BNP Paribas Financial Markets Takes Position in McEwen Mining Inc (NYSE:MUX)

BNP Paribas Financial Markets bought a new stake in shares of McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 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.

Other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of McEwen Mining by 369.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 556,718 shares of the basic materials company's stock valued at $4,331,000 after buying an additional 438,088 shares during the last quarter. Geode Capital Management LLC increased its stake in McEwen Mining by 2.9% during 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. Connor Clark & Lunn Investment Management Ltd. raised its holdings in McEwen Mining by 1.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 399,519 shares of the basic materials company's stock valued at $3,103,000 after acquiring an additional 5,800 shares in the last quarter. U S Global Investors Inc. bought a new stake in shares of McEwen Mining in the 4th quarter worth approximately $2,557,000. Finally, Invesco Ltd. lifted its position in shares of McEwen Mining by 8.6% in the 4th quarter. Invesco Ltd. now owns 254,431 shares of the basic materials company's stock worth $1,979,000 after acquiring an additional 20,200 shares during the period. 17.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MUX shares. HC Wainwright lowered their price objective on McEwen Mining from $18.00 to $15.50 and set a "buy" rating on the stock in a research report on Friday, May 9th. Wall Street Zen lowered shares of McEwen Mining from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Roth Mkm dropped their price objective 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 upgraded shares of McEwen Mining to a "strong-buy" rating in a research report on Tuesday, April 29th.

McEwen Mining Price Performance

Shares of MUX traded up $0.13 during mid-day trading on Tuesday, reaching $8.09. The company had a trading volume of 397,956 shares, compared to its average volume of 687,929. 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 company has a market capitalization of $436.49 million, a P/E ratio of 3.70 and a beta of 0.93. McEwen Mining Inc has a twelve month low of $6.38 and a twelve month high of $12.45. The company's 50-day moving average is $7.60 and its 200-day moving average is $7.86.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last announced its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) earnings per share 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 firm had revenue of $35.70 million for the quarter, compared to analysts' expectations of $39.06 million. On average, equities analysts anticipate that McEwen Mining Inc will post -0.72 EPS for the current year.

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.