McEwen Mining Inc (NYSE:MUX) (TSE:MUX) rose 5.3% during mid-day trading on Thursday . The stock traded as high as $2.20 and last traded at $2.18. Approximately 3,627,058 shares traded hands during mid-day trading, an increase of 62% from the average daily volume of 2,236,718 shares. The stock had previously closed at $2.07.
A number of equities research analysts recently weighed in on MUX shares. Zacks Investment Research lowered shares of McEwen Mining from a “hold” rating to a “strong sell” rating in a report on Saturday, August 4th. HC Wainwright set a $5.00 price objective on shares of McEwen Mining and gave the company a “buy” rating in a report on Friday, September 7th. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $4.00.
The stock has a market cap of $654.32 million, a P/E ratio of -72.00 and a beta of -1.20.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC increased its position in McEwen Mining by 119.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 50,664 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 27,600 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of McEwen Mining in the 2nd quarter worth approximately $109,000. CIBC World Markets Inc. purchased a new position in shares of McEwen Mining in the 1st quarter worth approximately $164,000. Aperio Group LLC grew its position in shares of McEwen Mining by 24.5% in the 2nd quarter. Aperio Group LLC now owns 122,524 shares of the basic materials company’s stock worth $254,000 after buying an additional 24,119 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of McEwen Mining in the 1st quarter worth approximately $646,000. 30.53% of the stock is currently owned by institutional investors and hedge funds.
McEwen Mining Company Profile (NYSE:MUX)
McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. The company owns 100% interests in the El Gallo 1 mine and El Gallo 2 project in the state of Sinaloa, Mexico; and the Black Fox Complex, Buffalo Ankerite, Fuller, Davidson Tisdale, and Black Fox North properties in Canada.
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