Susquehanna Fundamental Investments LLC Acquires New Shares in McEwen Inc. $MUX

Susquehanna Fundamental Investments LLC bought a new stake in McEwen Inc. (NYSE:MUX) (TSE:MUX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 42,599 shares of the basic materials company’s stock, valued at approximately $772,000. Susquehanna Fundamental Investments LLC owned 0.07% of McEwen at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of McEwen by 24.4% in the 4th quarter. State Street Corp now owns 2,190,605 shares of the basic materials company’s stock valued at $40,548,000 after acquiring an additional 429,761 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 worth $33,515,000 after acquiring an additional 541,890 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in McEwen by 1.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,285,603 shares of the basic materials company’s stock valued at $21,982,000 after purchasing an additional 15,439 shares during the period. BNP Paribas Financial Markets grew its holdings in McEwen by 56.3% during the fourth quarter. BNP Paribas Financial Markets now owns 1,001,596 shares of the basic materials company’s stock valued at $18,540,000 after purchasing an additional 360,857 shares during the period. Finally, Vanguard Group Inc. increased its stake in McEwen by 3.1% in the third quarter. Vanguard Group Inc. now owns 884,347 shares of the basic materials company’s stock valued at $15,122,000 after purchasing an additional 26,846 shares in the last quarter. Institutional investors own 17.03% of the company’s stock.

Insider Activity at McEwen

In other news, Director Richard W. Brissenden sold 3,275 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $18.13, for a total value of $59,375.75. Following the sale, the director directly owned 18,022 shares in the company, valued at $326,738.86. The trade was a 15.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 14.80% of the stock is currently owned by company insiders.

McEwen Stock Up 5.2%

McEwen stock opened at $20.15 on Thursday. The company has a 50 day moving average of $18.58 and a 200-day moving average of $21.09. The company has a quick ratio of 1.61, a current ratio of 2.04 and a debt-to-equity ratio of 0.17. McEwen Inc. has a twelve month low of $13.05 and a twelve month high of $29.70. The stock has a market capitalization of $1.24 billion, a PE ratio of 15.99 and a beta of 1.26.

McEwen (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). The company had revenue of $59.23 million for the quarter, compared to analyst estimates of $65.51 million. McEwen had a return on equity of 13.48% and a net margin of 32.46%. On average, equities research analysts anticipate that McEwen Inc. will post 0.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of McEwen in a report on Friday, August 28th. HC Wainwright restated a “buy” rating and issued a $28.00 price objective (down from $29.50) on shares of McEwen in a research report on Friday, August 7th. Wall Street Zen downgraded McEwen from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Roth Capital set a $31.00 target price on McEwen and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Zacks Research cut McEwen from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 5th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.00.

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.