McEwen (NYSE:MUX) VP Stephan Michael Spears Sells 12,600 Shares

McEwen Inc. (NYSE:MUX) (TSE:MUX) VP Stephan Michael Spears sold 12,600 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $14.35, for a total transaction of $180,810.00. Following the completion of the sale, the vice president owned 3,814 shares of the company’s stock, valued at approximately $54,730.90. This represents a 76.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

McEwen Stock Up 2.0%

NYSE:MUX traded up $0.35 on Wednesday, hitting $17.79. The stock had a trading volume of 841,050 shares, compared to its average volume of 1,102,278. McEwen Inc. has a 1 year low of $6.38 and a 1 year high of $24.88. The firm’s fifty day simple moving average is $17.39 and its two-hundred day simple moving average is $12.59. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.82 and a current ratio of 2.35. The stock has a market cap of $968.93 million, a P/E ratio of -71.14 and a beta of 0.97.

McEwen (NYSE:MUX) (TSE:MUX) last released its earnings results on Wednesday, November 5th. The basic materials company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.32). The business had revenue of $50.53 million during the quarter, compared to the consensus estimate of $60.00 million. McEwen had a negative net margin of 8.05% and a negative return on equity of 2.76%. Analysts predict that McEwen Inc. will post -0.72 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MUX shares. Canaccord Genuity Group set a $25.00 target price on McEwen and gave the stock a “buy” rating in a research note on Wednesday, October 15th. HC Wainwright raised their price objective on shares of McEwen from $17.00 to $21.50 and gave the stock a “buy” rating in a report on Friday, October 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of McEwen in a research report on Tuesday. Finally, Roth Capital set a $23.00 target price on shares of McEwen in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.50.

Institutional Trading of McEwen

A number of hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC grew its position in McEwen by 6.3% in the third quarter. Verition Fund Management LLC now owns 58,252 shares of the basic materials company’s stock worth $996,000 after acquiring an additional 3,452 shares in the last quarter. Prelude Capital Management LLC purchased a new position in shares of McEwen in the 3rd quarter worth about $443,000. National Bank of Canada FI increased its position in shares of McEwen by 3,328.3% during the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 3,528 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of McEwen by 38.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,959,913 shares of the basic materials company’s stock valued at $33,515,000 after purchasing an additional 541,890 shares during the last quarter. Finally, Jain Global LLC purchased a new position in shares of McEwen during the 3rd quarter valued at about $507,000. 17.03% of the stock is owned by institutional investors.

McEwen 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.