McEwen Mining (NYSE:MUX) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of McEwen Mining (NYSE:MUX) (TSE:MUX) from a hold rating to a sell rating in a report released on Wednesday.

MUX has been the topic of a number of other reports. Roth Mkm lowered their price target on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating on the stock in a research note on Thursday, November 7th. HC Wainwright lowered their price target on shares of McEwen Mining from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th.

McEwen Mining Stock Performance

NYSE:MUX opened at $7.51 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. McEwen Mining has a fifty-two week low of $5.92 and a fifty-two week high of $12.50. The stock has a market cap of $397.57 million, a PE ratio of 3.43 and a beta of 1.42. The firm’s fifty day simple moving average is $8.09 and its 200-day simple moving average is $8.79.

Institutional Investors Weigh In On McEwen Mining

A number of large investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC grew its stake in McEwen Mining by 18.8% in the 4th quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company’s stock valued at $98,000 after acquiring an additional 2,000 shares during the last quarter. Tidal Investments LLC grew its stake in McEwen Mining by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 152,859 shares of the basic materials company’s stock valued at $1,422,000 after acquiring an additional 2,632 shares during the last quarter. Virtu Financial LLC grew its stake in McEwen Mining by 32.3% in the 3rd quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company’s stock valued at $154,000 after acquiring an additional 4,046 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in McEwen Mining in the 4th quarter valued at about $38,000. Finally, Quarry LP acquired a new stake in McEwen Mining in the 3rd quarter valued at about $51,000. 17.03% of the stock is owned by institutional investors and hedge funds.

About McEwen Mining

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.