Jeffrey Chan Sells 13,333 Shares of McEwen (NYSE:MUX) Stock

Key Points

• Jeffrey Chan, VP of McEwen Inc. (NYSE:MUX), sold 13,333 shares at an average price of $14.89, reducing his holdings by 85.47%.
• McEwen's stock price fell 2.0%, trading at $14.53, with a current market capitalization of $786 million.
• The company's recent quarterly report showed a $0.06 EPS, missing analyst expectations, and a revenue of $46.70 million.

McEwen Inc. (NYSE:MUX - Get Free Report) TSE: MUX VP Jeffrey Chan sold 13,333 shares of the firm's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $14.89, for a total value of $198,528.37. Following the transaction, the vice president directly owned 2,267 shares of the company's stock, valued at $33,755.63. This represents a 85.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

McEwen Stock Down 2.0%

McEwen stock traded down $0.29 during mid-day trading on Wednesday, hitting $14.53. The company's stock had a trading volume of 1,331,527 shares, compared to its average volume of 956,561. McEwen Inc. has a 52-week low of $6.38 and a 52-week high of $15.50. The firm's 50 day moving average is $11.79 and its 200 day moving average is $9.57. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.35 and a quick ratio of 1.82. The company has a market cap of $786.00 million, a PE ratio of -58.11 and a beta of 0.96.

McEwen (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings data on Wednesday, August 6th. The basic materials company reported $0.06 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $49.05 million. On average, analysts anticipate that McEwen Inc. will post -0.72 earnings per share for the current year.

Institutional Trading of McEwen

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in McEwen by 19.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,418,023 shares of the basic materials company's stock worth $13,627,000 after acquiring an additional 233,266 shares in the last quarter. Nomura Holdings Inc. bought a new position in McEwen during the first quarter worth $6,925,000. Tidal Investments LLC increased its holdings in shares of McEwen by 4.0% in the second quarter. Tidal Investments LLC now owns 846,440 shares of the basic materials company's stock valued at $8,134,000 after purchasing an additional 32,218 shares during the last quarter. Alps Advisors Inc. raised its position in shares of McEwen by 41.9% in the first quarter. Alps Advisors Inc. now owns 729,515 shares of the basic materials company's stock valued at $5,508,000 after purchasing an additional 215,396 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of McEwen by 4,309.4% during the first quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company's stock worth $4,823,000 after acquiring an additional 624,382 shares during the period. Institutional investors own 17.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MUX. Roth Capital set a $15.00 price objective on McEwen and gave the stock a "buy" rating in a research note on Tuesday, July 1st. HC Wainwright lifted their price objective on McEwen from $15.50 to $17.00 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of McEwen in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $14.83.

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.

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