Wells Fargo & Company MN Has $181,000 Stock Position in McEwen Mining Inc (NYSE:MUX)

Wells Fargo & Company MN cut its stake in shares of McEwen Mining Inc (NYSE:MUX - Free Report) TSE: MUX by 71.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,310 shares of the basic materials company's stock after selling 59,086 shares during the quarter. Wells Fargo & Company MN's holdings in McEwen Mining were worth $181,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC purchased a new position in McEwen Mining during the fourth quarter valued at $788,000. Private Advisor Group LLC increased its position in McEwen Mining by 18.8% during the 4th 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 in the last quarter. Sprott Inc. acquired a new stake in McEwen Mining during the 4th quarter worth about $100,000. U S Global Investors Inc. purchased a new position in shares of McEwen Mining during the 4th quarter valued at about $2,557,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of McEwen Mining by 1.5% during the 4th 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 period. Institutional investors own 17.03% of the company's stock.

Analyst Upgrades and Downgrades

MUX has been the topic of a number of analyst reports. National Bank Financial upgraded McEwen Mining to a "strong-buy" rating in a research report on Tuesday, April 29th. HC Wainwright dropped their price target on McEwen Mining from $18.00 to $15.50 and set a "buy" rating on the stock in a research report on Friday. StockNews.com downgraded shares of McEwen Mining from a "hold" rating to a "sell" rating in a report on Wednesday, February 19th. Finally, Roth Mkm decreased their price target on shares of McEwen Mining from $13.00 to $12.50 and set a "buy" rating on the stock in a research note on Friday, March 21st.

McEwen Mining Stock Performance

Shares of McEwen Mining stock traded up $0.06 during trading on Friday, hitting $7.45. 435,060 shares of the stock were exchanged, compared to its average volume of 694,003. McEwen Mining Inc has a 12 month low of $6.38 and a 12 month high of $12.45. The stock's fifty day moving average is $7.60 and its 200 day moving average is $8.03. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17. The stock has a market cap of $401.82 million, a PE ratio of 3.40 and a beta of 0.93.

McEwen Mining (NYSE:MUX - Get Free Report) TSE: MUX last issued its quarterly earnings results on Wednesday, May 7th. The basic materials company reported ($0.12) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) 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 $35.70 million for the quarter, compared to the consensus estimate of $39.06 million. As a group, sell-side analysts anticipate that McEwen Mining Inc will post -0.72 EPS for the current 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.