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

Man Group plc acquired a new stake in McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX during the fourth quarter, according to its most recent 13F filing 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 approximately 0.11% of McEwen Mining at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MUX. New Age Alpha Advisors LLC purchased a new position in shares of McEwen Mining in the 4th quarter valued at $38,000. Aquatic Capital Management LLC grew its position 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 worth $57,000 after purchasing an additional 5,727 shares during the last quarter. Private Advisor Group LLC grew its position 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 worth $98,000 after purchasing an additional 2,000 shares during the last quarter. Sprott Inc. purchased a new position in McEwen Mining during the 4th quarter worth $100,000. Finally, National Bank of Canada FI grew its position in McEwen Mining by 12,910.1% during the 4th quarter. National Bank of Canada FI now owns 14,181 shares of the basic materials company's stock worth $110,000 after purchasing an additional 14,072 shares during the last quarter. 17.03% of the stock is currently owned by institutional investors and hedge funds.

McEwen Mining Price Performance

Shares of NYSE MUX traded up $0.11 during midday trading on Wednesday, hitting $8.17. The company had a trading volume of 403,020 shares, compared to its average volume of 680,805. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. McEwen Mining Inc has a twelve month low of $6.38 and a twelve month high of $12.45. The business has a 50-day simple moving average of $7.60 and a two-hundred day simple moving average of $7.87. The firm has a market capitalization of $440.81 million, a price-to-earnings ratio of 3.73 and a beta of 0.93.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last announced 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 company had revenue of $35.70 million during the quarter, compared to analysts' expectations of $39.06 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. Equities research analysts anticipate that McEwen Mining Inc will post -0.72 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MUX shares. Roth Mkm lowered their target price 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. Wall Street Zen downgraded shares of McEwen Mining from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. HC Wainwright lowered their target price on shares of McEwen Mining from $18.00 to $15.50 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, National Bank Financial raised shares of McEwen Mining to a "strong-buy" rating in a report on Tuesday, April 29th.

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.