McEwen Mining Inc. (NYSE:MUX) Shares Bought by Alps Advisors Inc.

Alps Advisors Inc. boosted its position in shares of McEwen Mining Inc. (NYSE:MUX - Free Report) TSE: MUX by 41.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 729,515 shares of the basic materials company's stock after acquiring an additional 215,396 shares during the period. Alps Advisors Inc. owned about 1.35% of McEwen Mining worth $5,508,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its holdings in shares of McEwen Mining by 74.9% in the 4th quarter. Bank of America Corp DE now owns 115,080 shares of the basic materials company's stock valued at $895,000 after buying an additional 49,301 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of McEwen Mining in the 4th quarter valued at $526,000. Quantbot Technologies LP boosted its holdings in shares of McEwen Mining by 53.5% in the 4th quarter. Quantbot Technologies LP now owns 37,980 shares of the basic materials company's stock valued at $295,000 after buying an additional 13,230 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of McEwen Mining by 16.4% in the 4th quarter. Northern Trust Corp now owns 161,972 shares of the basic materials company's stock valued at $1,260,000 after buying an additional 22,854 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of McEwen Mining in the 4th quarter valued at $421,000. Institutional investors and hedge funds own 17.03% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on MUX shares. National Bankshares restated an "outperform" rating on shares of McEwen Mining in a report on Tuesday, June 24th. Roth Capital set a $15.00 target price on shares of McEwen Mining and gave the company a "buy" rating in a report on Tuesday, July 1st. Wall Street Zen cut shares of McEwen Mining from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Roth Mkm decreased their price target on shares of McEwen Mining from $13.00 to $12.50 and set a "buy" rating for the company in a research note on Friday, March 21st. Finally, National Bank Financial upgraded shares of McEwen Mining to a "strong-buy" rating in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $14.33.

McEwen Mining Stock Up 2.7%

Shares of NYSE:MUX opened at $10.93 on Friday. The stock has a market cap of $590.11 million, a P/E ratio of -19.18 and a beta of 0.98. The firm has a fifty day moving average price of $8.94 and a 200 day moving average price of $8.16. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.89. McEwen Mining Inc. has a 1-year low of $6.38 and a 1-year high of $11.46.

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) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. McEwen Mining had a negative net margin of 17.51% and a negative return on equity of 6.03%. The company had revenue of $35.70 million during the quarter, compared to analysts' expectations of $39.06 million. Sell-side analysts predict that McEwen Mining Inc. will post -0.72 EPS for the current year.

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.

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