Semanteon Capital Management LP Makes New Investment in McEwen Inc. $MUX

Semanteon Capital Management LP bought a new stake in shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 33,032 shares of the basic materials company’s stock, valued at approximately $565,000. Semanteon Capital Management LP owned 0.06% of McEwen as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of MUX. Y Intercept Hong Kong Ltd purchased a new position in McEwen in the second quarter worth $947,000. Catalyst Funds Management Pty Ltd purchased a new stake in shares of McEwen during the 2nd quarter valued at $338,000. North of South Capital LLP acquired a new stake in shares of McEwen in the 3rd quarter worth $855,000. Entropy Technologies LP purchased a new position in McEwen during the 2nd quarter worth $161,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in McEwen during the 3rd quarter worth $598,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

McEwen Stock Performance

Shares of MUX stock opened at $26.25 on Friday. McEwen Inc. has a 52-week low of $6.38 and a 52-week high of $29.70. The company has a quick ratio of 1.58, a current ratio of 2.10 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.43 billion, a PE ratio of -119.31 and a beta of 1.13. The business has a 50-day simple moving average of $22.80 and a 200-day simple moving average of $18.34.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MUX shares. Weiss Ratings restated a “sell (d+)” rating on shares of McEwen in a report on Monday, December 29th. Roth Mkm restated a “buy” rating and issued a $30.00 target price (up previously from $23.00) on shares of McEwen in a research note on Friday, January 30th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.50.

About McEwen

McEwen Mining Inc (NYSE: MUX) is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company’s flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.