Renaissance Technologies LLC Boosts Stake in McEwen Mining Inc (NYSE:MUX)

Renaissance Technologies LLC raised its stake in McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 170.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 162,186 shares of the basic materials company's stock after buying an additional 102,231 shares during the period. Renaissance Technologies LLC owned about 0.31% of McEwen Mining worth $1,262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MUX. New Age Alpha Advisors LLC purchased a new stake in McEwen Mining in the fourth quarter worth approximately $38,000. Private Advisor Group LLC boosted its stake in shares of McEwen Mining by 18.8% in the 4th quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company's stock valued at $98,000 after purchasing an additional 2,000 shares in the last quarter. Sprott Inc. bought a new position in shares of McEwen Mining during the 4th quarter valued at $100,000. National Bank of Canada FI raised its position in McEwen Mining by 12,910.1% in the 4th quarter. National Bank of Canada FI now owns 14,181 shares of the basic materials company's stock worth $110,000 after purchasing an additional 14,072 shares during the period. Finally, Virtu Financial LLC lifted its stake in 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. Hedge funds and other institutional investors own 17.03% of the company's stock.

McEwen Mining Trading Down 2.4 %

Shares of McEwen Mining stock traded down $0.18 during trading on Friday, reaching $7.34. 480,782 shares of the stock were exchanged, compared to its average volume of 706,334. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. The firm has a market cap of $395.88 million, a price-to-earnings ratio of 3.35 and a beta of 1.21. McEwen Mining Inc has a 1 year low of $6.38 and a 1 year high of $12.45. The stock's fifty day moving average is $7.52 and its 200 day moving average is $8.16.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last released its quarterly earnings data on Friday, March 14th. The basic materials company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The business had revenue of $33.52 million during the quarter, compared to analysts' expectations of $32.20 million. As a group, equities research analysts expect that McEwen Mining Inc will post -0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

About McEwen Mining

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.