McEwen (NYSE:MUX) Director Richard Brissenden Sells 3,275 Shares of Stock

McEwen Inc. (NYSE:MUX) (TSE:MUX) Director Richard Brissenden sold 3,275 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $18.13, for a total value of $59,375.75. Following the transaction, the director owned 18,022 shares in the company, valued at approximately $326,738.86. This trade represents a 15.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

McEwen Stock Performance

Shares of NYSE:MUX traded down $0.20 during trading on Wednesday, reaching $17.93. The stock had a trading volume of 1,018,759 shares, compared to its average volume of 1,238,505. The stock has a fifty day simple moving average of $21.22 and a two-hundred day simple moving average of $22.28. The company has a quick ratio of 0.81, a current ratio of 1.14 and a debt-to-equity ratio of 0.19. McEwen Inc. has a 52 week low of $9.82 and a 52 week high of $29.70. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 15.19 and a beta of 1.17.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MUX. Weiss Ratings cut shares of McEwen from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Zacks Research raised McEwen from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Wall Street Zen cut McEwen from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. HC Wainwright raised their target price on McEwen from $21.50 to $29.50 and gave the company a “buy” rating in a report on Wednesday, March 18th. Finally, Roth Mkm lifted their price target on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, McEwen currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MUX. JPMorgan Chase & Co. grew its holdings in shares of McEwen by 231.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 659,079 shares of the basic materials company’s stock worth $11,270,000 after purchasing an additional 460,308 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of McEwen by 62.7% in the third quarter. Quantbot Technologies LP now owns 131,786 shares of the basic materials company’s stock valued at $2,254,000 after purchasing an additional 50,778 shares in the last quarter. Synergy Asset Management LLC bought a new position in McEwen in the fourth quarter worth $13,547,000. U S Global Investors Inc. acquired a new stake in McEwen during the fourth quarter worth $1,857,000. Finally, Brookwood Investment Group LLC acquired a new stake in McEwen during the fourth quarter worth $559,000. Institutional investors own 17.03% of the company’s stock.

McEwen Company Profile

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.