D. E. Shaw & Co. Inc. Sells 238,704 Shares of McEwen Mining Inc (NYSE:MUX)

D. E. Shaw & Co. Inc. lowered its stake in shares of McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 37.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 405,661 shares of the basic materials company's stock after selling 238,704 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.77% of McEwen Mining worth $3,156,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of McEwen Mining by 369.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 556,718 shares of the basic materials company's stock valued at $4,331,000 after purchasing an additional 438,088 shares during the period. Geode Capital Management LLC raised its stake in McEwen Mining by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 484,792 shares of the basic materials company's stock worth $3,774,000 after buying an additional 13,673 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in McEwen Mining by 1.5% in the fourth 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 purchasing an additional 5,800 shares in the last quarter. U S Global Investors Inc. acquired a new stake in shares of McEwen Mining in the fourth quarter valued at approximately $2,557,000. Finally, Bridgeway Capital Management LLC bought a new stake in shares of McEwen Mining in the fourth quarter valued at approximately $2,111,000. Institutional investors and hedge funds own 17.03% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MUX. HC Wainwright dropped their price objective on McEwen Mining from $18.00 to $15.50 and set a "buy" rating on the stock in a research note on Friday, May 9th. Wall Street Zen downgraded McEwen Mining from a "hold" rating to a "sell" rating in a report on Thursday. Roth Mkm cut 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, National Bank Financial raised McEwen Mining to a "strong-buy" rating in a report on Tuesday, April 29th.

McEwen Mining Price Performance

NYSE MUX traded up $0.30 during trading hours on Friday, reaching $7.97. The company's stock had a trading volume of 795,962 shares, compared to its average volume of 689,035. McEwen Mining Inc has a 1 year low of $6.38 and a 1 year high of $12.45. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $430.45 million, a price-to-earnings ratio of 3.64 and a beta of 0.93. The firm's 50-day moving average price is $7.60 and its 200-day moving average price is $7.88.

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