McEwen Inc. $MUX Stock Holdings Lessened by Alps Advisors Inc.

Key Points

• Alps Advisors cut its McEwen stake by 35.7% in the third quarter, selling 158,234 shares; it held 284,957 shares, worth about $5.1 million. Institutional investors collectively own 17.03% of the company.
• Analyst views are mixed, but MarketBeat lists a “Moderate Buy” consensus and an average price target of $29.50. Two analysts rate the stock Buy and two rate it Hold.
• McEwen shares opened at $15.51, versus a 52-week range of $13.58 to $29.70. The company reported a market capitalization of about $952 million.

Alps Advisors Inc. trimmed its holdings in shares of McEwen Inc. (NYSE:MUX - Free Report) TSE: MUX by 35.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 284,957 shares of the basic materials company's stock after selling 158,234 shares during the period. Alps Advisors Inc. owned approximately 0.46% of McEwen worth $5,086,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in shares of McEwen by 5.8% during the 1st quarter. Bank of New York Mellon Corp now owns 10,780 shares of the basic materials company's stock worth $220,000 after buying an additional 589 shares during the period. GAMMA Investing LLC boosted its stake in shares of McEwen by 170.2% in the 3rd quarter. GAMMA Investing LLC now owns 2,010 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 1,266 shares in the last quarter. KBC Group NV bought a new stake in shares of McEwen in the 1st quarter worth about $27,000. Versant Capital Management Inc bought a new stake in shares of McEwen in the 3rd quarter worth about $31,000. Finally, North Star Investment Management Corp. increased its position in shares of McEwen by 3.5% during the 3rd quarter. North Star Investment Management Corp. now owns 70,380 shares of the basic materials company's stock worth $1,256,000 after purchasing an additional 2,380 shares in the last quarter. Institutional investors own 17.03% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MUX. Zacks Research upgraded shares of McEwen from a "strong sell" rating to a "hold" rating in a research note on Friday, September 11th. Wall Street Zen lowered McEwen from a "hold" rating to a "sell" rating in a research report on Saturday, October 3rd. HC Wainwright reaffirmed a "buy" rating and set a $28.00 price target (down from $29.50) on shares of McEwen in a report on Friday, August 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of McEwen in a research report on Friday, August 28th. Finally, Roth Capital set a $31.00 price objective on McEwen and gave the company a "buy" rating in a research report on Monday, August 10th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $29.50.

McEwen Price Performance

MUX opened at $15.51 on Monday. McEwen Inc. has a one year low of $13.58 and a one year high of $29.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.04 and a quick ratio of 1.61. The company's 50 day simple moving average is $17.47 and its 200-day simple moving average is $20.61. The stock has a market capitalization of $951.63 million, a P/E ratio of 12.31 and a beta of 1.31.

McEwen Company Profile

McEwen Inc NYSE: MUX, formerly known as McEwen Mining Inc, is a precious- and base-metals mining and exploration company. The company develops and operates mineral properties with a focus on gold, silver and copper, and also conducts exploration to expand its resource base.

McEwen's principal gold assets include the Fox Complex in Ontario, Canada, and the Gold Bar mine in Nevada. The Fox Complex includes underground mining and processing infrastructure in the Timmins mining district, while Gold Bar is an open-pit operation in central Nevada.

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