Quest Partners LLC Invests $166,000 in McEwen Mining Inc (NYSE:MUX)

Quest Partners LLC acquired a new position in shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) in the 3rd quarter, HoldingsChannel reports. The fund acquired 17,851 shares of the basic materials company’s stock, valued at approximately $166,000.

Several other institutional investors and hedge funds have also made changes to their positions in MUX. Vanguard Group Inc. boosted its position in shares of McEwen Mining by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock worth $6,074,000 after acquiring an additional 6,082 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of McEwen Mining in the 1st quarter valued at about $1,348,000. Fifth Third Bancorp acquired a new stake in shares of McEwen Mining in the 2nd quarter valued at about $32,000. Banque Cantonale Vaudoise acquired a new stake in shares of McEwen Mining in the 2nd quarter valued at about $78,000. Finally, Van ECK Associates Corp boosted its position in shares of McEwen Mining by 3.3% in the 2nd quarter. Van ECK Associates Corp now owns 2,118,520 shares of the basic materials company’s stock valued at $19,448,000 after purchasing an additional 67,885 shares during the period. 17.03% of the stock is owned by institutional investors and hedge funds.

McEwen Mining Stock Up 0.7 %

MUX opened at $8.22 on Thursday. The business has a 50 day moving average price of $9.45 and a two-hundred day moving average price of $9.65. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. The company has a market cap of $434.74 million, a PE ratio of 3.77 and a beta of 1.43. McEwen Mining Inc has a 52 week low of $5.92 and a 52 week high of $12.50.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.08). The company had revenue of $52.25 million for the quarter, compared to analysts’ expectations of $48.60 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. During the same period in the prior year, the company earned ($0.39) earnings per share. As a group, research analysts anticipate that McEwen Mining Inc will post -0.68 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on MUX. HC Wainwright upped their target price on McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Roth Mkm decreased their target price on McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, StockNews.com raised McEwen Mining from a “sell” rating to a “hold” rating in a research report on Friday, November 22nd.

McEwen Mining 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.