Campbell & CO Investment Adviser LLC Invests $983,000 in McEwen Inc. $MUX

Campbell & CO Investment Adviser LLC acquired a new stake in McEwen Inc. (NYSE:MUX) (TSE:MUX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 102,300 shares of the basic materials company’s stock, valued at approximately $983,000. Campbell & CO Investment Adviser LLC owned about 0.19% of McEwen as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MUX. Nomura Holdings Inc. acquired a new position in McEwen in the first quarter valued at approximately $6,925,000. Royal Bank of Canada lifted its position in shares of McEwen by 4,309.4% during the 1st quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company’s stock worth $4,823,000 after buying an additional 624,382 shares during the last quarter. Monashee Investment Management LLC acquired a new position in shares of McEwen in the 1st quarter valued at $2,076,000. PDT Partners LLC purchased a new position in shares of McEwen in the 1st quarter valued at $1,238,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of McEwen by 10.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,184,757 shares of the basic materials company’s stock valued at $8,945,000 after buying an additional 109,770 shares during the last quarter. Hedge funds and other institutional investors own 17.03% of the company’s stock.

Insider Transactions at McEwen

In other McEwen news, Director Richard W. Brissenden sold 11,203 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $14.89, for a total transaction of $166,812.67. Following the completion of the transaction, the director owned 9,405 shares in the company, valued at approximately $140,040.45. This represents a 54.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeffrey Chan sold 13,333 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $14.89, for a total transaction of $198,528.37. Following the completion of the sale, the vice president owned 2,267 shares of the company’s stock, valued at $33,755.63. This trade represents a 85.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 74,536 shares of company stock worth $1,082,841 over the last 90 days. 16.10% of the stock is currently owned by insiders.

McEwen Stock Performance

NYSE MUX opened at $17.66 on Thursday. The firm has a market cap of $962.01 million, a P/E ratio of -70.63 and a beta of 0.97. McEwen Inc. has a 52-week low of $6.38 and a 52-week high of $24.88. The business’s 50-day moving average price is $17.10 and its 200 day moving average price is $12.28. The company has a quick ratio of 1.82, a current ratio of 2.35 and a debt-to-equity ratio of 0.26.

McEwen (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings data on Wednesday, November 5th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.32). McEwen had a negative return on equity of 2.76% and a negative net margin of 8.05%.The company had revenue of $50.53 million for the quarter, compared to analyst estimates of $60.00 million. On average, equities research analysts expect that McEwen Inc. will post -0.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MUX has been the subject of a number of research reports. Roth Capital set a $23.00 price target on shares of McEwen in a research report on Thursday, October 9th. Canaccord Genuity Group set a $25.00 target price on McEwen and gave the company a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings raised McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. HC Wainwright lifted their price target on McEwen from $17.00 to $21.50 and gave the stock a “buy” rating in a research report on Friday, October 10th. Finally, National Bankshares reiterated an “outperform” rating on shares of McEwen in a research note on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $20.50.

About McEwen

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.