Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of McEwen Mining Inc (NYSE:MUX – Free Report) (TSE:MUX) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399,519 shares of the basic materials company’s stock after purchasing an additional 5,800 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.75% of McEwen Mining worth $3,103,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GSA Capital Partners LLP bought a new stake in shares of McEwen Mining during the 3rd quarter worth about $457,000. Quest Partners LLC bought a new stake in shares of McEwen Mining during the third quarter worth approximately $166,000. Quantbot Technologies LP bought a new stake in shares of McEwen Mining during the third quarter worth approximately $230,000. PDT Partners LLC acquired a new position in shares of McEwen Mining in the third quarter valued at approximately $101,000. Finally, Paloma Partners Management Co bought a new position in shares of McEwen Mining during the third quarter worth approximately $327,000. 17.03% of the stock is currently owned by institutional investors and hedge funds.
McEwen Mining Trading Up 0.9 %
Shares of MUX stock opened at $7.53 on Tuesday. The stock has a market cap of $398.47 million, a P/E ratio of 3.44 and a beta of 1.39. McEwen Mining Inc has a 1 year low of $6.46 and a 1 year high of $12.50. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The stock has a 50 day simple moving average of $7.77 and a 200 day simple moving average of $8.56.
Analyst Upgrades and Downgrades
A number of brokerages have commented on MUX. HC Wainwright decreased their price objective on McEwen Mining from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. StockNews.com downgraded shares of McEwen Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, February 19th.
View Our Latest Stock Report on MUX
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.
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