Two Sigma Advisers LP Has $1.70 Million Holdings in McEwen Mining Inc (NYSE:MUX)

Two Sigma Advisers LP trimmed its stake in McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 21.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 219,083 shares of the basic materials company's stock after selling 60,100 shares during the quarter. Two Sigma Advisers LP owned about 0.41% of McEwen Mining worth $1,704,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. New Age Alpha Advisors LLC purchased a new position in shares of McEwen Mining in the fourth quarter worth about $38,000. Aquatic Capital Management LLC raised its holdings in McEwen Mining by 357.9% in the 4th quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company's stock worth $57,000 after purchasing an additional 5,727 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of McEwen Mining by 18.8% in the 4th quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company's stock worth $98,000 after acquiring an additional 2,000 shares in the last quarter. Sprott Inc. bought a new stake in McEwen Mining during the 4th quarter valued at about $100,000. Finally, National Bank of Canada FI boosted its holdings in shares of McEwen Mining by 12,910.1% during the 4th quarter. National Bank of Canada FI now owns 14,181 shares of the basic materials company's stock valued at $110,000 after acquiring an additional 14,072 shares during the last quarter. 17.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

McEwen Mining Price Performance

McEwen Mining stock traded up $0.38 during trading hours on Tuesday, hitting $9.00. The stock had a trading volume of 1,009,883 shares, compared to its average volume of 682,637. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. McEwen Mining Inc has a 1-year low of $6.38 and a 1-year high of $11.74. The stock's fifty day moving average is $7.65 and its two-hundred day moving average is $7.87. The stock has a market capitalization of $485.62 million, a price-to-earnings ratio of 4.11 and a beta of 0.93.

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. The company had revenue of $35.70 million during the quarter, compared to analyst estimates of $39.06 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. As a group, analysts predict that McEwen Mining Inc will post -0.72 earnings per share for the current fiscal year.

McEwen Mining 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.