Man Group plc Invests $450,000 in McEwen Mining Inc (NYSE:MUX)

Man Group plc acquired a new position in shares of McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 57,780 shares of the basic materials company's stock, valued at approximately $450,000. Man Group plc owned 0.11% of McEwen Mining as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Private Advisor Group LLC increased its stake in McEwen Mining by 18.8% during the 4th quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company's stock valued at $98,000 after purchasing an additional 2,000 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in McEwen Mining during the 4th quarter valued at $38,000. Aquatic Capital Management LLC increased its stake in McEwen Mining by 357.9% during the 4th quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company's stock valued at $57,000 after purchasing an additional 5,727 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in McEwen Mining by 1.5% during 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 purchasing an additional 5,800 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in McEwen Mining by 8.8% during the 4th quarter. American Century Companies Inc. now owns 92,346 shares of the basic materials company's stock valued at $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.

McEwen Mining Stock Performance

Shares of MUX traded down $0.05 on Friday, reaching $8.03. 318,742 shares of the company's stock traded hands, compared to its average volume of 679,096. The stock's 50 day simple moving average is $7.61 and its two-hundred day simple moving average is $7.86. The stock has a market cap of $433.52 million, a PE ratio of 3.67 and a beta of 0.93. McEwen Mining Inc has a 52-week low of $6.38 and a 52-week high of $11.95. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last released its earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.02. The business had revenue of $35.70 million during the quarter, compared to the consensus estimate of $39.06 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. On average, analysts forecast that McEwen Mining Inc will post -0.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MUX. National Bank Financial upgraded shares of McEwen Mining to a "strong-buy" rating in a research note on Tuesday, April 29th. HC Wainwright decreased their price target on shares of McEwen Mining from $18.00 to $15.50 and set a "buy" rating for the company in a research note on Friday, May 9th. Wall Street Zen downgraded shares of McEwen Mining from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Roth Mkm dropped their price target on shares of McEwen Mining from $13.00 to $12.50 and set a "buy" rating on the stock in a research report on Friday, March 21st.

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.