Cambridge Investment Research Advisors Inc. Sells 72,981 Shares of McEwen Mining Inc. (NYSE:MUX)

Cambridge Investment Research Advisors Inc. cut its holdings in McEwen Mining Inc. (NYSE:MUX - Free Report) TSE: MUX by 68.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,584 shares of the basic materials company's stock after selling 72,981 shares during the quarter. Cambridge Investment Research Advisors Inc. owned approximately 0.06% of McEwen Mining worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Total Wealth Planning & Management Inc. bought a new stake in shares of McEwen Mining in the fourth quarter worth about $96,000. Tidal Investments LLC boosted its position in McEwen Mining by 556.7% during the 4th quarter. Tidal Investments LLC now owns 1,003,830 shares of the basic materials company's stock valued at $7,810,000 after acquiring an additional 850,971 shares in the last quarter. Man Group plc purchased a new position in shares of McEwen Mining during the 4th quarter worth approximately $450,000. Graham Capital Management L.P. boosted its position in shares of McEwen Mining by 18.5% during the fourth quarter. Graham Capital Management L.P. now owns 89,453 shares of the basic materials company's stock valued at $696,000 after purchasing an additional 13,937 shares in the last quarter. Finally, Bridgeway Capital Management LLC bought a new stake in shares of McEwen Mining during the fourth quarter valued at approximately $2,111,000. 17.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MUX. National Bank Financial raised McEwen Mining to a "strong-buy" rating in a research note on Tuesday, April 29th. National Bankshares reaffirmed an "outperform" rating on shares of McEwen Mining in a research note on Tuesday, June 24th. Wall Street Zen cut McEwen Mining from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Roth Mkm reduced their price target on McEwen Mining from $13.00 to $12.50 and set a "buy" rating on the stock in a research note on Friday, March 21st. Finally, HC Wainwright dropped their price target 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. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, McEwen Mining currently has a consensus rating of "Moderate Buy" and an average target price of $14.33.

McEwen Mining Stock Down 0.1%

Shares of MUX traded down $0.01 during mid-day trading on Tuesday, reaching $10.88. The company had a trading volume of 48,866 shares, compared to its average volume of 714,681. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.89 and a current ratio of 2.35. The firm has a 50-day moving average price of $8.94 and a 200 day moving average price of $8.16. McEwen Mining Inc. has a 52 week low of $6.38 and a 52 week high of $11.46. The company has a market capitalization of $587.23 million, a price-to-earnings ratio of -19.04 and a beta of 0.98.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.02. McEwen Mining had a negative return on equity of 6.03% and a negative net margin of 17.51%. The firm had revenue of $35.70 million for the quarter, compared to analysts' expectations of $39.06 million. On average, sell-side analysts forecast that McEwen Mining Inc. will post -0.72 EPS 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.