McEwen Inc. $MUX Position Boosted by Bridgeway Capital Management LLC

Key Points

• Bridgeway Capital Management LLC increased its stake in McEwen Inc. by 39.4%, owning approximately 0.70% of the company worth about $2.86 million as of the latest SEC filing.
• Despite a recent earnings report showing a miss on EPS expectations, several analysts have provided varying ratings, including a "buy" rating from Roth Capital with a price target of $15.00.
• The stock has recently been trading around $13.56 with a market cap of $733.68 million, while analysts project a consensus target price of $14.83.

Bridgeway Capital Management LLC boosted its stake in shares of McEwen Inc. (NYSE:MUX - Free Report) TSE: MUX by 39.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 378,100 shares of the basic materials company's stock after purchasing an additional 106,800 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.70% of McEwen worth $2,855,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MUX. Tidal Investments LLC increased its holdings in shares of McEwen by 556.7% in the 4th quarter. Tidal Investments LLC now owns 1,003,830 shares of the basic materials company's stock worth $7,810,000 after acquiring an additional 850,971 shares during the period. Nomura Holdings Inc. bought a new position in McEwen in the 1st quarter worth about $6,925,000. Alps Advisors Inc. increased its stake in shares of McEwen by 41.9% in the first quarter. Alps Advisors Inc. now owns 729,515 shares of the basic materials company's stock valued at $5,508,000 after purchasing an additional 215,396 shares during the period. Royal Bank of Canada raised its holdings in shares of McEwen by 4,309.4% during the first quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company's stock valued at $4,823,000 after buying an additional 624,382 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of McEwen 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. 17.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McEwen

In other news, Director Ian J. Ball sold 2,656 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $10.49, for a total transaction of $27,861.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 16.10% of the stock is currently owned by company insiders.

McEwen Price Performance

Shares of NYSE:MUX traded up $0.02 during trading hours on Friday, hitting $13.83. 1,095,327 shares of the company's stock traded hands, compared to its average volume of 1,485,164. The company's fifty day simple moving average is $11.34 and its two-hundred day simple moving average is $9.21. The company has a market cap of $748.34 million, a price-to-earnings ratio of -55.32 and a beta of 0.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 2.35. McEwen Inc. has a 52 week low of $6.38 and a 52 week high of $14.29.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last released its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.06 earnings per share 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 the consensus estimate of $49.05 million. McEwen had a negative return on equity of 2.76% and a negative net margin of 8.05%. As a group, equities analysts anticipate that McEwen Inc. will post -0.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Roth Capital set a $15.00 target price on McEwen and gave the company a "buy" rating in a research report on Tuesday, July 1st. Wall Street Zen cut McEwen from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. HC Wainwright lifted their price objective on shares of McEwen from $15.50 to $17.00 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of McEwen in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $14.83.

McEwen 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.