Nomura Holdings Inc. Purchases Shares of 917,168 McEwen Inc. $MUX

Key Points

• Nomura Holdings Inc. has invested approximately $6.93 million in McEwen Inc., acquiring 917,168 shares during the first quarter.
• Several other investors, including Aquatic Capital Management and SBI Securities, have significantly increased their holdings in McEwen, demonstrating growing institutional interest.
• McEwen recently reported earnings of $0.06 EPS for the quarter, missing expectations, and has analysts divided with a consensus average rating of "Buy" and a target price of $14.83.

Nomura Holdings Inc. bought a new position in McEwen Inc. (NYSE:MUX - Free Report) TSE: MUX during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 917,168 shares of the basic materials company's stock, valued at approximately $6,925,000. Nomura Holdings Inc. owned approximately 1.70% of McEwen at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Aquatic Capital Management LLC lifted its holdings in shares of McEwen by 357.9% during the fourth quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company's stock valued at $57,000 after purchasing an additional 5,727 shares in the last quarter. Total Wealth Planning & Management Inc. bought a new position in shares of McEwen during the fourth quarter valued at $96,000. SBI Securities Co. Ltd. lifted its holdings in shares of McEwen by 9,935.0% during the first quarter. SBI Securities Co. Ltd. now owns 14,350 shares of the basic materials company's stock valued at $108,000 after purchasing an additional 14,207 shares in the last quarter. Private Advisor Group LLC lifted its holdings in shares of McEwen by 16.6% during the first quarter. Private Advisor Group LLC now owns 14,743 shares of the basic materials company's stock valued at $111,000 after purchasing an additional 2,098 shares in the last quarter. Finally, Algert Global LLC bought a new position in shares of McEwen during the fourth quarter valued at $294,000. 17.03% of the stock is owned by institutional investors.

Insider Transactions at McEwen

In other McEwen news, Director Ian J. Ball sold 2,656 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $10.49, for a total transaction of $27,861.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 16.10% of the company's stock.

McEwen Stock Performance

McEwen stock traded up $0.19 during mid-day trading on Friday, reaching $13.56. 1,353,217 shares of the stock traded hands, compared to its average volume of 1,455,465. The stock has a market capitalization of $733.62 million, a PE ratio of -54.24 and a beta of 0.96. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.82. McEwen Inc. has a 12-month low of $6.38 and a 12-month high of $14.29. The business's 50-day moving average is $11.05 and its 200-day moving average is $8.99.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last posted 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 firm had revenue of $46.70 million for the quarter, compared to analysts' expectations of $49.05 million. McEwen had a negative net margin of 8.05% and a negative return on equity of 2.76%. As a group, sell-side analysts predict that McEwen Inc. will post -0.72 EPS for the current fiscal year.

Analysts Set New Price Targets

MUX has been the topic of a number of research analyst reports. HC Wainwright upped their price target on McEwen from $15.50 to $17.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. National Bankshares reaffirmed an "outperform" rating on shares of McEwen in a report on Wednesday, July 16th. Wall Street Zen downgraded McEwen from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Roth Capital set a $15.00 price target on McEwen and gave the company a "buy" rating in a report on Tuesday, July 1st. 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 data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $14.83.

McEwen Company 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.