McEwen Mining (NYSE:MUX) Trading Up 8.9%

McEwen Mining Inc (NYSE:MUX) (TSE:MUX)’s stock price traded up 8.9% on Monday . The stock traded as high as $9.85 and last traded at $9.81. 714,207 shares changed hands during mid-day trading, an increase of 3% from the average session volume of 695,113 shares. The stock had previously closed at $9.01.

Wall Street Analyst Weigh In

MUX has been the topic of several research analyst reports. Roth Mkm restated a “buy” rating and issued a $12.00 price objective (up from $11.00) on shares of McEwen Mining in a research report on Friday, May 10th. StockNews.com downgraded shares of McEwen Mining from a “hold” rating to a “sell” rating in a report on Thursday, July 11th. Finally, HC Wainwright raised their price target on McEwen Mining from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, May 13th.

McEwen Mining Price Performance

The stock has a market capitalization of $507.32 million, a PE ratio of 5.95 and a beta of 1.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.68 and a quick ratio of 1.21. The firm’s 50 day simple moving average is $9.42 and its 200 day simple moving average is $9.53.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its earnings results on Wednesday, August 7th. The basic materials company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The business had revenue of $47.48 million for the quarter, compared to the consensus estimate of $43.90 million. McEwen Mining had a net margin of 46.32% and a return on equity of 18.08%. During the same period in the prior year, the business posted ($0.46) EPS. As a group, equities analysts forecast that McEwen Mining Inc will post -0.81 EPS for the current fiscal year.

Insider Transactions at McEwen Mining

In related news, General Counsel Carmen L. Diges sold 17,066 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $9.44, for a total transaction of $161,103.04. Following the transaction, the general counsel now directly owns 10,982 shares in the company, valued at approximately $103,670.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other McEwen Mining news, CFO Perry Ing sold 23,332 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $9.76, for a total value of $227,720.32. Following the completion of the sale, the chief financial officer now owns 15,551 shares in the company, valued at approximately $151,777.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Carmen L. Diges sold 17,066 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $9.44, for a total value of $161,103.04. Following the completion of the sale, the general counsel now directly owns 10,982 shares of the company’s stock, valued at approximately $103,670.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,901 shares of company stock worth $413,353. Company insiders own 17.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in shares of McEwen Mining by 2.9% during the fourth quarter. Van ECK Associates Corp now owns 2,030,048 shares of the basic materials company’s stock valued at $14,637,000 after buying an additional 56,698 shares during the period. Jump Financial LLC grew its holdings in shares of McEwen Mining by 154.0% during the 4th quarter. Jump Financial LLC now owns 74,263 shares of the basic materials company’s stock worth $535,000 after acquiring an additional 45,020 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of McEwen Mining in the 4th quarter worth approximately $377,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of McEwen Mining in the 4th quarter worth approximately $107,000. Finally, Polunin Capital Partners Ltd purchased a new position in shares of McEwen Mining in the 1st quarter valued at approximately $6,730,000. 17.03% of the stock is currently owned by institutional investors.

McEwen Mining Company 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.