McEwen Mining Inc (NYSE:MUX) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC lifted its position in shares of McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 556.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,003,830 shares of the basic materials company's stock after acquiring an additional 850,971 shares during the period. Tidal Investments LLC owned about 1.90% of McEwen Mining worth $7,810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MUX. Dimensional Fund Advisors LP raised its position in shares of McEwen Mining by 369.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 556,718 shares of the basic materials company's stock valued at $4,331,000 after acquiring an additional 438,088 shares in the last quarter. U S Global Investors Inc. bought a new position in McEwen Mining during the 4th quarter worth $2,557,000. Bridgeway Capital Management LLC bought a new position in McEwen Mining during the 4th quarter worth $2,111,000. Renaissance Technologies LLC grew its stake in McEwen Mining by 170.5% during the 4th quarter. Renaissance Technologies LLC now owns 162,186 shares of the basic materials company's stock worth $1,262,000 after buying an additional 102,231 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in McEwen Mining during the 4th quarter worth $788,000. 17.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MUX has been the subject of a number of recent research reports. HC Wainwright lowered their price objective on McEwen Mining from $18.00 to $15.50 and set a "buy" rating for the company in a research note on Friday, May 9th. Roth Mkm lowered their price objective on McEwen Mining from $13.00 to $12.50 and set a "buy" rating for the company in a research note on Friday, March 21st. Wall Street Zen downgraded McEwen Mining from a "hold" rating to a "sell" rating in a research note on Thursday. Finally, National Bank Financial upgraded McEwen Mining to a "strong-buy" rating in a research note on Tuesday, April 29th.

McEwen Mining Stock Performance

Shares of NYSE:MUX traded up $0.30 on Friday, hitting $7.97. The company's stock had a trading volume of 795,962 shares, compared to its average volume of 689,035. McEwen Mining Inc has a 12 month low of $6.38 and a 12 month high of $12.45. The company has a market capitalization of $430.45 million, a price-to-earnings ratio of 3.64 and a beta of 0.93. The stock's 50-day moving average is $7.60 and its two-hundred day moving average is $7.88. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last released its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.02. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The company had revenue of $35.70 million during the quarter, compared to analysts' expectations of $39.06 million. On average, equities research analysts forecast that McEwen Mining Inc will post -0.72 EPS for the current year.

McEwen Mining 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.