McEwen Mining Inc. (NYSE:MUX) Shares Purchased by U S Global Investors Inc.

U S Global Investors Inc. boosted its position in McEwen Mining Inc. (NYSE:MUX - Free Report) TSE: MUX by 23.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 405,584 shares of the basic materials company's stock after purchasing an additional 76,972 shares during the period. U S Global Investors Inc. owned about 0.75% of McEwen Mining worth $3,062,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC acquired a new stake in McEwen Mining in the fourth quarter valued at about $38,000. Aquatic Capital Management LLC lifted its position in McEwen Mining by 357.9% in 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. Total Wealth Planning & Management Inc. acquired a new stake in McEwen Mining in the fourth quarter valued at about $96,000. Private Advisor Group LLC lifted its position in shares of McEwen Mining by 18.8% during the 4th quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company's stock valued at $98,000 after acquiring an additional 2,000 shares during the period. Finally, National Bank of Canada FI lifted its position 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 period. Institutional investors and hedge funds own 17.03% of the company's stock.

McEwen Mining Price Performance

Shares of McEwen Mining stock traded down $0.38 during trading on Friday, hitting $9.35. 756,099 shares of the company were exchanged, compared to its average volume of 691,129. The company has a quick ratio of 1.89, a current ratio of 2.35 and a debt-to-equity ratio of 0.26. McEwen Mining Inc. has a fifty-two week low of $6.38 and a fifty-two week high of $11.39. The stock has a market capitalization of $504.54 million, a price-to-earnings ratio of -16.39 and a beta of 0.95. The firm has a 50 day moving average price of $8.30 and a 200 day moving average price of $7.97.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings data 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 negative return on equity of 6.03% and a negative net margin of 17.51%. The firm had revenue of $35.70 million during the quarter, compared to the consensus estimate of $39.06 million. On average, equities analysts expect that McEwen Mining Inc. will post -0.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on MUX. Roth Mkm reduced their price target on shares of McEwen Mining from $13.00 to $12.50 and set a "buy" rating for the company in a research report on Friday, March 21st. HC Wainwright reduced their price target on shares of McEwen Mining from $18.00 to $15.50 and set a "buy" rating for the company in a research report on Friday, May 9th. National Bankshares reiterated an "outperform" rating on shares of McEwen Mining in a research report on Tuesday, June 24th. National Bank Financial upgraded shares of McEwen Mining to a "strong-buy" rating in a research report on Tuesday, April 29th. Finally, Wall Street Zen downgraded shares of McEwen Mining from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $14.00.

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.