McEwen Mining Inc (NYSE:MUX) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its holdings in shares of McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 170.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 162,186 shares of the basic materials company's stock after acquiring an additional 102,231 shares during the quarter. Renaissance Technologies LLC owned 0.31% of McEwen Mining worth $1,262,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. New Age Alpha Advisors LLC purchased a new stake in McEwen Mining during the 4th quarter worth approximately $38,000. Private Advisor Group LLC grew its position 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 worth $98,000 after buying an additional 2,000 shares in the last quarter. Sprott Inc. bought a new stake in shares of McEwen Mining in the fourth quarter worth $100,000. National Bank of Canada FI raised its holdings in McEwen Mining by 12,910.1% in the fourth quarter. National Bank of Canada FI now owns 14,181 shares of the basic materials company's stock valued at $110,000 after acquiring an additional 14,072 shares in the last quarter. Finally, Virtu Financial LLC boosted its stake in McEwen Mining by 32.3% during the 3rd quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company's stock valued at $154,000 after acquiring an additional 4,046 shares during the last quarter. Institutional investors and hedge funds own 17.03% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MUX. StockNews.com downgraded shares of McEwen Mining from a "hold" rating to a "sell" rating in a research report on Wednesday, February 19th. HC Wainwright reissued a "buy" rating and issued a $18.00 price objective on shares of McEwen Mining in a report on Wednesday, March 19th. National Bank Financial upgraded McEwen Mining to a "strong-buy" rating in a research note on Tuesday, April 29th. Finally, Roth Mkm decreased their target price on McEwen Mining from $13.00 to $12.50 and set a "buy" rating for the company in a research report on Friday, March 21st.

McEwen Mining Stock Performance

Shares of McEwen Mining stock traded up $0.18 during trading hours on Monday, reaching $7.54. The company's stock had a trading volume of 65,421 shares, compared to its average volume of 868,086. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17. McEwen Mining Inc has a one year low of $6.38 and a one year high of $12.45. The company's 50 day simple moving average is $7.52 and its 200 day simple moving average is $8.15. The stock has a market cap of $406.67 million, a P/E ratio of 3.44 and a beta of 1.21.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.02). McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. The company had revenue of $33.52 million for the quarter, compared to analyst estimates of $32.20 million. As a group, analysts expect that McEwen Mining Inc will post -0.72 EPS for the current fiscal year.

McEwen Mining 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.