Dimensional Fund Advisors LP increased its position in shares of McEwen Inc. (NYSE:MUX - Free Report) TSE: MUX by 15.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,269,760 shares of the basic materials company's stock after buying an additional 172,687 shares during the period. Dimensional Fund Advisors LP owned about 2.14% of McEwen worth $25,920,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of McEwen by 5.8% during the first quarter. Bank of New York Mellon Corp now owns 10,780 shares of the basic materials company's stock worth $220,000 after acquiring an additional 589 shares during the last quarter. Kercheville Advisors LLC boosted its holdings in McEwen by 10.0% in the first quarter. Kercheville Advisors LLC now owns 11,000 shares of the basic materials company's stock valued at $225,000 after purchasing an additional 1,000 shares during the last quarter. KBC Group NV purchased a new position in McEwen in the first quarter valued at about $27,000. Geode Capital Management LLC grew its stake in McEwen by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 522,435 shares of the basic materials company's stock valued at $9,673,000 after purchasing an additional 1,461 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in McEwen during the 1st quarter valued at approximately $31,000. 17.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on MUX shares. Weiss Ratings downgraded shares of McEwen from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, June 2nd. Zacks Research upgraded shares of McEwen from a "strong sell" rating to a "hold" rating in a research note on Monday, May 11th. Finally, Wall Street Zen cut shares of McEwen from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $29.83.
Check Out Our Latest Research Report on MUX
McEwen Stock Performance
Shares of MUX opened at $19.73 on Thursday. The firm has a fifty day moving average of $18.49 and a 200-day moving average of $21.90. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 16.72 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.81 and a current ratio of 1.14. McEwen Inc. has a 1 year low of $9.82 and a 1 year high of $29.70.
McEwen (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.14). The business had revenue of $59.23 million for the quarter, compared to analyst estimates of $65.51 million. McEwen had a return on equity of 13.65% and a net margin of 31.40%. As a group, equities analysts anticipate that McEwen Inc. will post 1.01 earnings per share for the current year.
Insider Activity
In other news, Director Richard W. Brissenden sold 3,275 shares of the business's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $18.13, for a total value of $59,375.75. Following the sale, the director owned 18,022 shares of the company's stock, valued at approximately $326,738.86. The trade was a 15.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 14.80% of the company's stock.
About McEwen
(
Free Report)
McEwen Mining Inc NYSE: MUX is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.
The company's flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.
Recommended Stories
Want to see what other hedge funds are holding MUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McEwen Inc. (NYSE:MUX - Free Report) TSE: MUX.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider McEwen, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and McEwen wasn't on the list.
While McEwen currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
