JPMorgan Chase & Co. Boosts Stake in McEwen Mining Inc (NYSE:MUX)

JPMorgan Chase & Co. increased its holdings in McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 282,420.0% during the 4th quarter, according to the company in 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 buying 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 reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fox Run Management L.L.C. acquired a new stake in McEwen Mining in the fourth quarter valued at approximately $248,000. American Century Companies Inc. raised its holdings in shares of 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 worth $718,000 after acquiring an additional 7,492 shares during the period. Quantbot Technologies LP raised its stake in McEwen Mining by 53.5% during the fourth quarter. Quantbot Technologies LP now owns 37,980 shares of the basic materials company's stock worth $295,000 after purchasing an additional 13,230 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in McEwen Mining by 1.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 399,519 shares of the basic materials company's stock valued at $3,103,000 after acquiring an additional 5,800 shares during the last quarter. Finally, U S Global Investors Inc. acquired a new position in shares of McEwen Mining in the 4th quarter valued at $2,557,000. Institutional investors and hedge funds own 17.03% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on MUX. StockNews.com downgraded McEwen Mining from a "hold" rating to a "sell" rating in a research report on Wednesday, February 19th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price target on shares of McEwen Mining in a report on Wednesday, March 19th. National Bank Financial raised shares of McEwen Mining to a "strong-buy" rating in a research report on Tuesday. Finally, Roth Mkm cut their price target on McEwen Mining from $13.00 to $12.50 and set a "buy" rating on the stock in a research report on Friday, March 21st.

McEwen Mining Price Performance

McEwen Mining stock opened at $7.34 on Friday. The business has a 50 day simple moving average of $7.52 and a 200-day simple moving average of $8.17. McEwen Mining Inc has a 12 month low of $6.38 and a 12 month high of $12.45. 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 stock has a market capitalization of $395.88 million, a PE ratio of 3.35 and a beta of 1.21.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last released its earnings results on Friday, March 14th. The basic materials company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.02). The business had revenue of $33.52 million during the quarter, compared to analyst estimates of $32.20 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. Equities 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.

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