Alps Advisors Inc. Boosts Stock Position in McEwen Mining Inc. (NYSE:MUX)

Alps Advisors Inc. raised its holdings in shares of McEwen Mining Inc. (NYSE:MUX - Free Report) TSE: MUX by 41.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 729,515 shares of the basic materials company's stock after acquiring an additional 215,396 shares during the quarter. Alps Advisors Inc. owned approximately 1.35% of McEwen Mining worth $5,508,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MUX. New Age Alpha Advisors LLC bought a new stake in McEwen Mining in the fourth quarter worth $38,000. Aquatic Capital Management LLC boosted its stake in McEwen Mining by 357.9% during the fourth quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company's stock worth $57,000 after buying an additional 5,727 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings 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 worth $3,103,000 after purchasing an additional 5,800 shares during the period. American Century Companies Inc. increased its position in McEwen Mining by 8.8% during the fourth quarter. American Century Companies Inc. now owns 92,346 shares of the basic materials company's stock worth $718,000 after buying an additional 7,492 shares during the period. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of McEwen Mining during the 4th quarter worth $96,000. 17.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MUX shares. Wall Street Zen lowered McEwen Mining from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Roth Mkm lowered 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. HC Wainwright reduced their price target on shares of McEwen Mining from $18.00 to $15.50 and set a "buy" rating on the stock in a research report on Friday, May 9th. National Bankshares reaffirmed an "outperform" rating on shares of McEwen Mining in a research note on Tuesday, June 24th. Finally, National Bank Financial upgraded McEwen Mining to a "strong-buy" rating in a research note on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, McEwen Mining presently has a consensus rating of "Moderate Buy" and a consensus target price of $14.33.

McEwen Mining Price Performance

Shares of McEwen Mining stock traded up $0.12 during midday trading on Tuesday, hitting $11.01. 695,532 shares of the company traded hands, compared to its average volume of 717,185. McEwen Mining Inc. has a 12 month low of $6.38 and a 12 month high of $11.46. The firm's fifty day moving average price is $8.94 and its 200-day moving average price is $8.16. The stock has a market cap of $594.14 million, a price-to-earnings ratio of -19.31 and a beta of 0.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.89 and a current ratio of 2.35.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last posted its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.02. The business had revenue of $35.70 million during the quarter, compared to analysts' expectations of $39.06 million. McEwen Mining had a negative return on equity of 6.03% and a negative net margin of 17.51%. As a group, sell-side analysts forecast that McEwen Mining Inc. will post -0.72 earnings per share 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.