StockNews.com Upgrades McEwen Mining (NYSE:MUX) to Hold

McEwen Mining (NYSE:MUX) (TSE:MUX) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

Other equities analysts also recently issued research reports about the stock. HC Wainwright cut their price target on shares of McEwen Mining from $19.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Roth Mkm dropped their price target 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.

McEwen Mining Price Performance

Shares of NYSE:MUX opened at $7.38 on Monday. 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 50-day moving average price of $8.23 and a 200 day moving average price of $8.85. The company has a market cap of $390.29 million, a P/E ratio of 3.37 and a beta of 1.42. McEwen Mining has a 52 week low of $5.92 and a 52 week high of $12.50.

Hedge Funds Weigh In On McEwen Mining

Several institutional investors have recently added to or reduced their stakes in MUX. Private Advisor Group LLC acquired a new position in McEwen Mining in the third quarter valued at $99,000. Van ECK Associates Corp boosted its position in McEwen Mining by 2.1% in the 3rd quarter. Van ECK Associates Corp now owns 2,163,930 shares of the basic materials company’s stock valued at $20,125,000 after buying an additional 45,410 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of McEwen Mining during the 3rd quarter valued at approximately $457,000. Quest Partners LLC bought a new stake in shares of McEwen Mining in the third quarter worth $166,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of McEwen Mining by 66.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,719 shares of the basic materials company’s stock valued at $3,659,000 after purchasing an additional 157,300 shares in the last quarter. 17.03% of the stock is currently owned by institutional investors and hedge funds.

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.