Invesco Ltd. Has $1.98 Million Stake in McEwen Mining Inc (NYSE:MUX)

Invesco Ltd. increased its position in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 8.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 254,431 shares of the basic materials company’s stock after buying an additional 20,200 shares during the quarter. Invesco Ltd.’s holdings in McEwen Mining were worth $1,979,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Private Advisor Group LLC lifted its stake in shares of McEwen Mining by 18.8% in the fourth quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company’s stock valued at $98,000 after buying an additional 2,000 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of McEwen Mining by 53.5% in the 4th quarter. Quantbot Technologies LP now owns 37,980 shares of the basic materials company’s stock worth $295,000 after acquiring an additional 13,230 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of McEwen Mining by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 471,119 shares of the basic materials company’s stock worth $4,383,000 after acquiring an additional 25,844 shares during the last quarter. Empowered Funds LLC acquired a new position in McEwen Mining during the 4th quarter valued at about $788,000. Finally, Norges Bank bought a new stake in McEwen Mining during the 4th quarter worth approximately $421,000. Institutional investors and hedge funds own 17.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MUX. Roth Mkm cut their target price on McEwen Mining from $13.00 to $12.50 and set a “buy” rating on the stock in a research report on Friday, March 21st. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of McEwen Mining in a report on Wednesday, March 19th. Finally, StockNews.com downgraded shares of McEwen Mining from a “hold” rating to a “sell” rating in a report on Wednesday, February 19th.

McEwen Mining Stock Performance

Shares of MUX opened at $7.63 on Wednesday. The stock has a 50 day moving average of $7.50 and a 200 day moving average of $8.21. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. McEwen Mining Inc has a 12 month low of $6.38 and a 12 month high of $12.45. The company has a market capitalization of $411.52 million, a price-to-earnings ratio of 3.48 and a beta of 1.21.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its earnings results on Friday, March 14th. The basic materials company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $33.52 million for the quarter, compared to the consensus estimate of $32.20 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. As a group, sell-side analysts forecast that McEwen Mining Inc will post -0.72 earnings per share for the current year.

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.