50,000 Shares in McEwen Inc. (NYSE:MUX) Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 50,000 shares of McEwen Inc. valued at approximately $378,000, holding 0.09% of the company.
• McEwen's stock has experienced a 1.1% decline recently, with current trading at around $10.05 and a market capitalization of $542.60 million.
• A mix of analyst ratings has emerged for McEwen, with one recently downgrading the stock from "hold" to "sell," while others maintain a "buy" or "strong buy" outlook.

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of McEwen Inc. (NYSE:MUX - Free Report) TSE: MUX in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the basic materials company's stock, valued at approximately $378,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.09% of McEwen as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of MUX. Bank of America Corp DE raised its holdings in McEwen by 74.9% in the fourth quarter. Bank of America Corp DE now owns 115,080 shares of the basic materials company's stock valued at $895,000 after acquiring an additional 49,301 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in McEwen in the fourth quarter valued at about $526,000. Northern Trust Corp raised its stake in McEwen by 16.4% during the fourth quarter. Northern Trust Corp now owns 161,972 shares of the basic materials company's stock valued at $1,260,000 after buying an additional 22,854 shares in the last quarter. Norges Bank bought a new position in McEwen during the 4th quarter worth approximately $421,000. Finally, Dimensional Fund Advisors LP grew its position in shares of McEwen by 369.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 556,718 shares of the basic materials company's stock worth $4,331,000 after acquiring an additional 438,088 shares in the last quarter. Hedge funds and other institutional investors own 17.03% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. National Bankshares reissued an "outperform" rating on shares of McEwen in a report on Wednesday, July 16th. National Bank Financial raised shares of McEwen to a "strong-buy" rating in a report on Tuesday, April 29th. 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. Wall Street Zen downgraded McEwen from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, HC Wainwright raised their price target on McEwen from $15.50 to $17.00 and gave the company a "buy" rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, McEwen has an average rating of "Moderate Buy" and a consensus price target of $14.83.

McEwen Stock Up 2.4%

Shares of NYSE:MUX traded up $0.25 during trading on Tuesday, reaching $10.65. 755,549 shares of the company traded hands, compared to its average volume of 765,798. 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 Inc. has a 1-year low of $6.38 and a 1-year high of $11.80. The firm has a fifty day simple moving average of $10.03 and a 200 day simple moving average of $8.47. The firm has a market cap of $574.72 million, a P/E ratio of -18.68 and a beta of 0.88.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last announced its earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.02. McEwen 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 analysts' expectations of $39.06 million. Analysts anticipate that McEwen Inc. will post -0.72 earnings per share for the current fiscal year.

McEwen 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.