Nomura Holdings Inc. Takes Position in 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 the company in its most recent filing with the Securities and Exchange Commission. The firm bought 917,168 shares of the basic materials company's stock, valued at approximately $6,925,000. Nomura Holdings Inc. owned 1.70% of McEwen at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aquatic Capital Management LLC boosted its holdings in 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 acquiring an additional 5,727 shares during the period. Total Wealth Planning & Management Inc. acquired a new position in shares of McEwen during the 4th quarter worth about $96,000. SBI Securities Co. Ltd. boosted its stake in McEwen by 9,935.0% during the 1st 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 during the period. Private Advisor Group LLC grew its holdings in McEwen by 16.6% in the 1st quarter. Private Advisor Group LLC now owns 14,743 shares of the basic materials company's stock valued at $111,000 after buying an additional 2,098 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in McEwen in the 4th quarter valued at approximately $294,000. Institutional investors and hedge funds own 17.03% of the company's stock.

Insider Buying and Selling

In other McEwen news, Director Ian J. Ball sold 2,656 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $10.49, for a total transaction of $27,861.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 16.10% of the stock is currently owned by corporate insiders.

McEwen Stock Performance

McEwen stock traded up $0.19 on Friday, hitting $13.56. The company's stock had a trading volume of 1,353,217 shares, compared to its average volume of 1,458,157. McEwen Inc. has a one year low of $6.38 and a one year high of $14.29. The firm has a market cap of $733.68 million, a P/E ratio of -54.24 and a beta of 0.96. The company has a quick ratio of 1.82, a current ratio of 2.35 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average price of $11.05 and a 200-day moving average price of $9.01.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last released 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). McEwen had a negative return on equity of 2.76% and a negative net margin of 8.05%.The business had revenue of $46.70 million for the quarter, compared to the consensus estimate of $49.05 million. On average, equities analysts anticipate that McEwen Inc. will post -0.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MUX. National Bankshares reiterated an "outperform" rating on shares of McEwen in a report on Wednesday, July 16th. 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. HC Wainwright increased their price target on shares of McEwen from $15.50 to $17.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Wall Street Zen lowered shares of McEwen from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. Based on data from MarketBeat, the company presently 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.