Insider Selling: McEwen (NYSE:MUX) Director Sells 11,203 Shares of Stock

Key Points

• Richard Brissenden, a director of McEwen Inc. (NYSE:MUX), sold 11,203 shares at an average price of $14.89, resulting in a total transaction value of approximately $166,812.
• McEwen's shares have experienced a 2.0% decline recently, trading at $14.53, while the company reports a debt-to-equity ratio of 0.26 and a market cap of $786 million.
• The company has received mixed forecasts from analysts, with a target price averaging $14.83, indicating a general outlook of "Buy" from several research reports.

McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX Director Richard Brissenden sold 11,203 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $14.89, for a total value of $166,812.67. Following the completion of the transaction, the director owned 9,405 shares in the company, valued at approximately $140,040.45. This trade represents a 54.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

McEwen Trading Down 2.0%

Shares of NYSE MUX traded down $0.29 during trading on Wednesday, reaching $14.53. The stock had a trading volume of 1,331,527 shares, compared to its average volume of 956,561. McEwen Inc. has a fifty-two week low of $6.38 and a fifty-two week high of $15.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 2.35. The business's 50-day moving average price is $11.79 and its 200-day moving average price is $9.57. The company has a market cap of $786.00 million, a P/E ratio of -58.11 and a beta of 0.96.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). McEwen had a negative net margin of 8.05% and a negative return on equity of 2.76%. The company had revenue of $46.70 million during the quarter, compared to analyst estimates of $49.05 million. On average, equities research analysts predict that McEwen Inc. will post -0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On McEwen

A number of hedge funds have recently bought and sold shares of the company. Everstar Asset Management LLC increased its holdings in McEwen by 4.3% during the 2nd quarter. Everstar Asset Management LLC now owns 28,988 shares of the basic materials company's stock valued at $279,000 after purchasing an additional 1,188 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of McEwen by 0.3% during the second quarter. Geode Capital Management LLC now owns 509,426 shares of the basic materials company's stock worth $4,897,000 after purchasing an additional 1,585 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of McEwen by 16.6% during the first quarter. Private Advisor Group LLC now owns 14,743 shares of the basic materials company's stock valued at $111,000 after purchasing an additional 2,098 shares during the last quarter. Inceptionr LLC increased its holdings in shares of McEwen by 21.7% in the second quarter. Inceptionr LLC now owns 19,496 shares of the basic materials company's stock valued at $187,000 after purchasing an additional 3,480 shares in the last quarter. Finally, American Century Companies Inc. raised its position in McEwen by 7.6% in the 2nd quarter. American Century Companies Inc. now owns 109,210 shares of the basic materials company's stock worth $1,050,000 after purchasing an additional 7,702 shares during the last quarter. 17.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MUX has been the subject of a number of research reports. National Bankshares restated an "outperform" rating on shares of McEwen in a research note on Wednesday, July 16th. HC Wainwright boosted their price objective on McEwen from $15.50 to $17.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Finally, Roth Capital set a $15.00 price objective on McEwen and gave the stock a "buy" rating in a research report on Tuesday, July 1st. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to MarketBeat, McEwen has an average rating of "Buy" and an average price target of $14.83.

About McEwen

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.

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