McEwen Inc. (NYSE:MUX) Shares Acquired by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP increased its stake in McEwen Inc. by 53.3%
• JPMorgan Chase & Co. dramatically boosted its holdings by 282,420.0% in the fourth quarter, indicating significant investor interest.
• McEwen reported a loss of ($0.12) earnings per share, improving slightly against analyst expectations.

GSA Capital Partners LLP raised its holdings in shares of McEwen Inc. (NYSE:MUX - Free Report) TSE: MUX by 53.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 213,909 shares of the basic materials company's stock after purchasing an additional 74,401 shares during the quarter. GSA Capital Partners LLP owned approximately 0.40% of McEwen worth $1,615,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of McEwen by 74.9% during the fourth quarter. Bank of America Corp DE now owns 115,080 shares of the basic materials company's stock worth $895,000 after buying an additional 49,301 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in shares of McEwen in the 4th quarter worth about $526,000. Northern Trust Corp grew its stake in shares of McEwen by 16.4% during the 4th quarter. Northern Trust Corp now owns 161,972 shares of the basic materials company's stock worth $1,260,000 after acquiring an additional 22,854 shares during the period. Norges Bank purchased a new stake in shares of McEwen during the 4th quarter valued at approximately $421,000. Finally, American Century Companies Inc. lifted its holdings in McEwen by 8.8% during the 4th quarter. American Century Companies Inc. now owns 92,346 shares of the basic materials company's stock worth $718,000 after purchasing an additional 7,492 shares in the last quarter. Institutional investors and hedge funds own 17.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MUX shares. National Bankshares reissued an "outperform" rating on shares of McEwen in a research note on Wednesday, July 16th. Roth Capital set a $15.00 price objective on McEwen and gave the company a "buy" rating in a research report on Tuesday, July 1st. HC Wainwright upped their price objective on McEwen from $15.50 to $17.00 and gave the company a "buy" rating in a research report on Tuesday. Wall Street Zen downgraded McEwen from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, National Bank Financial raised shares of McEwen to a "strong-buy" rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $14.83.

McEwen Stock Down 1.1%

Shares of McEwen stock traded down $0.11 during trading on Friday, reaching $10.05. The company's stock had a trading volume of 852,530 shares, compared to its average volume of 839,269. The company has a 50-day simple moving average of $9.94 and a two-hundred day simple moving average of $8.44. The company has a quick ratio of 1.89, a current ratio of 2.35 and a debt-to-equity ratio of 0.26. McEwen Inc. has a 1-year low of $6.38 and a 1-year high of $11.80. The company has a market cap of $542.60 million, a price-to-earnings ratio of -17.63 and a beta of 0.98.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last announced its quarterly earnings data 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. The business had revenue of $35.70 million for the quarter, compared to analyst estimates of $39.06 million. McEwen had a negative return on equity of 6.03% and a negative net margin of 17.51%. As a group, equities analysts forecast that McEwen Inc. will post -0.72 earnings per share for the current year.

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.