McEwen Mining Inc (NYSE:MUX) Short Interest Update

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totalling 1,050,000 shares, a decrease of 21.1% from the November 30th total of 1,330,000 shares. Based on an average daily trading volume, of 610,000 shares, the short-interest ratio is presently 1.7 days. Approximately 2.4% of the shares of the stock are short sold.

Institutional Trading of McEwen Mining

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP acquired a new stake in shares of McEwen Mining in the third quarter valued at approximately $51,000. Banque Cantonale Vaudoise bought a new position in McEwen Mining in the second quarter valued at $78,000. Private Advisor Group LLC acquired a new stake in McEwen Mining in the 3rd quarter valued at $99,000. Rathbones Group PLC bought a new stake in McEwen Mining during the 2nd quarter worth about $101,000. Finally, PDT Partners LLC acquired a new position in shares of McEwen Mining during the 3rd quarter worth about $101,000. Institutional investors and hedge funds own 17.03% of the company’s stock.

McEwen Mining Trading Down 1.6 %

MUX traded down $0.13 during mid-day trading on Friday, hitting $7.92. The stock had a trading volume of 265,713 shares, compared to its average volume of 653,187. The stock’s fifty day simple moving average is $8.84 and its 200-day simple moving average is $9.20. The firm has a market capitalization of $419.17 million, a price-to-earnings ratio of 3.62 and a beta of 1.43. McEwen Mining has a 1-year low of $5.92 and a 1-year high of $12.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The business had revenue of $52.25 million during the quarter, compared to the consensus estimate of $48.60 million. During the same quarter last year, the company earned ($0.39) earnings per share. As a group, research analysts forecast that McEwen Mining will post -0.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MUX shares. Roth Mkm dropped their price objective on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a report on Thursday, November 7th. HC Wainwright raised their price target on McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, StockNews.com lowered McEwen Mining from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th.

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.