JPMorgan Chase & Co. Increases Stock Holdings in McEwen Mining Inc (NYSE:MUX)

JPMorgan Chase & Co. grew its stake in McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 282,420.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,378 shares of the basic materials company's stock after acquiring an additional 42,363 shares during the quarter. JPMorgan Chase & Co. owned about 0.08% of McEwen Mining worth $330,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Private Advisor Group LLC grew its holdings in shares of McEwen Mining by 18.8% during the fourth quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company's stock valued at $98,000 after buying an additional 2,000 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of McEwen Mining by 1.8% in the third quarter. Tidal Investments LLC now owns 152,859 shares of the basic materials company's stock valued at $1,422,000 after purchasing an additional 2,632 shares during the period. Virtu Financial LLC raised its stake in shares of McEwen Mining by 32.3% in the third quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company's stock worth $154,000 after purchasing an additional 4,046 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of McEwen Mining by 1.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 399,519 shares of the basic materials company's stock worth $3,103,000 after purchasing an additional 5,800 shares during the period. Finally, American Century Companies Inc. lifted its stake in McEwen Mining by 8.8% during the 4th quarter. American Century Companies Inc. now owns 92,346 shares of the basic materials company's stock valued at $718,000 after acquiring an additional 7,492 shares during the period. 17.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MUX has been the subject of several analyst reports. Roth Mkm decreased their price objective on McEwen Mining from $13.00 to $12.50 and set a "buy" rating for the company in a report on Friday, March 21st. HC Wainwright restated a "buy" rating and issued a $18.00 price objective on shares of McEwen Mining in a research report on Wednesday, March 19th. StockNews.com lowered shares of McEwen Mining from a "hold" rating to a "sell" rating in a report on Wednesday, February 19th. Finally, National Bank Financial raised shares of McEwen Mining to a "strong-buy" rating in a report on Tuesday, April 29th.

McEwen Mining Price Performance

NYSE MUX traded down $0.41 on Thursday, hitting $7.42. The company had a trading volume of 307,621 shares, compared to its average volume of 706,060. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. The company has a market capitalization of $400.20 million, a PE ratio of 3.39 and a beta of 0.93. McEwen Mining Inc has a 12-month low of $6.38 and a 12-month high of $12.45. The company's fifty day moving average price is $7.57 and its 200-day moving average price is $8.12.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last released its earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) EPS for the quarter, topping analysts' consensus estimates of ($0.14) by $0.02. The business had revenue of $35.70 million during the quarter, compared to analysts' expectations of $39.06 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. As a group, analysts predict that McEwen Mining Inc will post -0.72 earnings per share for the current year.

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.