McEwen Mining Inc (NYSE:MUX) Stock Position Trimmed by Two Sigma Advisers LP

Two Sigma Advisers LP reduced its stake in McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 21.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 219,083 shares of the basic materials company's stock after selling 60,100 shares during the period. Two Sigma Advisers LP owned approximately 0.41% of McEwen Mining worth $1,704,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC acquired a new stake in shares of McEwen Mining in the fourth quarter valued at about $38,000. Aquatic Capital Management LLC raised its stake in shares of 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 valued at $57,000 after purchasing an additional 5,727 shares during the period. Private Advisor Group LLC raised its stake in shares of McEwen Mining by 18.8% during the fourth quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company's stock valued at $98,000 after purchasing an additional 2,000 shares during the period. Sprott Inc. acquired a new position in shares of McEwen Mining during the fourth quarter worth $100,000. Finally, National Bank of Canada FI boosted its stake in shares of McEwen Mining by 12,910.1% in the fourth quarter. National Bank of Canada FI now owns 14,181 shares of the basic materials company's stock valued at $110,000 after purchasing an additional 14,072 shares during the period. 17.03% of the stock is owned by hedge funds and other institutional investors.

McEwen Mining Stock Down 0.6%

Shares of McEwen Mining stock traded down $0.05 during trading on Friday, reaching $8.03. The company had a trading volume of 318,742 shares, compared to its average volume of 679,096. The company has a market cap of $433.52 million, a price-to-earnings ratio of 3.67 and a beta of 0.93. McEwen Mining Inc has a fifty-two week low of $6.38 and a fifty-two week high of $11.95. The firm's fifty day moving average is $7.61 and its 200-day moving average is $7.87. 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 issued its earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) 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 analyst estimates of $39.06 million. On average, analysts anticipate that McEwen Mining Inc will post -0.72 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. HC Wainwright cut their price objective on shares of McEwen Mining from $18.00 to $15.50 and set a "buy" rating on the stock in a report on Friday, May 9th. National Bank Financial upgraded McEwen Mining to a "strong-buy" rating in a research note on Tuesday, April 29th. Wall Street Zen lowered McEwen Mining from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Roth Mkm dropped their price objective on McEwen Mining from $13.00 to $12.50 and set a "buy" rating on the stock in a report on Friday, March 21st.

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.