McEwen Mining Inc (NYSE:MUX) Short Interest Up 55.3% in April

McEwen Mining Inc (NYSE:MUX - Get Free Report) TSE: MUX was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 2,050,000 shares, a growth of 55.3% from the March 31st total of 1,320,000 shares. Approximately 5.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 763,700 shares, the short-interest ratio is presently 2.7 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp raised its holdings in shares of McEwen Mining by 2.9% during the 4th quarter. Van ECK Associates Corp now owns 2,030,048 shares of the basic materials company's stock valued at $14,637,000 after purchasing an additional 56,698 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of McEwen Mining by 2.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,063,345 shares of the basic materials company's stock valued at $7,667,000 after purchasing an additional 22,231 shares in the last quarter. Polunin Capital Partners Ltd bought a new position in shares of McEwen Mining during the 1st quarter valued at $6,730,000. Trexquant Investment LP raised its holdings in shares of McEwen Mining by 83.2% during the 3rd quarter. Trexquant Investment LP now owns 90,262 shares of the basic materials company's stock valued at $587,000 after purchasing an additional 41,000 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of McEwen Mining by 175.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 75,611 shares of the basic materials company's stock valued at $486,000 after purchasing an additional 48,192 shares in the last quarter. Institutional investors own 17.03% of the company's stock.

McEwen Mining Trading Up 2.7 %

Shares of NYSE:MUX traded up $0.32 during mid-day trading on Friday, hitting $12.26. The stock had a trading volume of 1,352,172 shares, compared to its average volume of 980,737. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.09 and a current ratio of 1.76. The company has a market cap of $606.13 million, a PE ratio of 10.75 and a beta of 1.53. McEwen Mining has a 12-month low of $5.92 and a 12-month high of $12.50. The company's 50 day moving average is $9.20 and its 200-day moving average is $7.85.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings results on Thursday, February 29th. The basic materials company reported $2.90 EPS for the quarter, beating the consensus estimate of ($0.32) by $3.22. McEwen Mining had a net margin of 32.92% and a return on equity of 19.20%. The business had revenue of $58.68 million during the quarter, compared to the consensus estimate of $53.00 million. On average, sell-side analysts predict that McEwen Mining will post -0.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MUX shares. TheStreet upgraded shares of McEwen Mining from a "d" rating to a "c" rating in a report on Friday, March 1st. HC Wainwright reduced their target price on shares of McEwen Mining from $18.50 to $13.00 and set a "buy" rating for the company in a report on Monday, March 4th.

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.