MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $8.95 Million Stock Holdings in McEwen Inc. $MUX

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in McEwen Inc. by 10.2%, now owning approximately 2.19% of the company, valued at $8.94 million.
• Recent transactions include Nomura Holdings Inc. purchasing a new position worth about $6.93 million and several other investors significantly boosting their stakes in McEwen.
• McEwen reported a quarterly earnings miss, with an EPS of $0.06 against estimates of $0.09, and analysts predict a negative EPS for the current fiscal year.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in McEwen Inc. (NYSE:MUX - Free Report) TSE: MUX by 10.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,184,757 shares of the basic materials company's stock after purchasing an additional 109,770 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 2.19% of McEwen worth $8,945,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MUX. Dimensional Fund Advisors LP boosted its holdings in McEwen by 369.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 556,718 shares of the basic materials company's stock worth $4,331,000 after purchasing an additional 438,088 shares in the last quarter. Northern Trust Corp lifted its position in McEwen by 16.4% during the 4th quarter. Northern Trust Corp now owns 161,972 shares of the basic materials company's stock worth $1,260,000 after acquiring an additional 22,854 shares during the last quarter. Algert Global LLC acquired a new position in McEwen during the 4th quarter worth $294,000. BNP Paribas Financial Markets acquired a new position in McEwen during the 4th quarter worth $776,000. Finally, Bank of America Corp DE lifted its position in McEwen by 74.9% during the 4th quarter. Bank of America Corp DE now owns 115,080 shares of the basic materials company's stock worth $895,000 after acquiring an additional 49,301 shares during the last quarter. 17.03% of the stock is currently owned by institutional investors.

Insider Transactions at McEwen

In related news, Director Ian J. Ball sold 2,656 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $10.49, for a total value of $27,861.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 16.10% of the stock is owned by company insiders.

McEwen Stock Performance

Shares of MUX traded up $0.02 during trading hours on Friday, reaching $13.83. 1,095,327 shares of the company traded hands, compared to its average volume of 1,485,164. The stock's fifty day moving average is $11.34 and its 200 day moving average is $9.21. The stock has a market cap of $748.34 million, a P/E ratio of -55.32 and a beta of 0.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 2.35. McEwen Inc. has a 1-year low of $6.38 and a 1-year high of $14.29.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last announced its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). The company had revenue of $46.70 million for the quarter, compared to analyst estimates of $49.05 million. McEwen had a negative net margin of 8.05% and a negative return on equity of 2.76%. Equities research analysts anticipate that McEwen Inc. will post -0.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of McEwen from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Roth Capital set a $15.00 target price on shares of McEwen and gave the stock a "buy" rating in a research report on Tuesday, July 1st. National Bankshares reissued an "outperform" rating on shares of McEwen in a research report on Wednesday, July 16th. Finally, HC Wainwright boosted their target price on shares of McEwen from $15.50 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $14.83.

McEwen 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.