MMCAP International Inc. SPC Sells 52,956 Shares of McEwen Mining Inc (NYSE:MUX)

MMCAP International Inc. SPC lessened its stake in shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 62.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 31,754 shares of the basic materials company’s stock after selling 52,956 shares during the period. MMCAP International Inc. SPC owned 0.06% of McEwen Mining worth $247,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MUX. Private Advisor Group LLC bought a new stake in McEwen Mining during the third quarter valued at about $99,000. Van ECK Associates Corp lifted its position in shares of McEwen Mining by 2.1% in the third quarter. Van ECK Associates Corp now owns 2,163,930 shares of the basic materials company’s stock valued at $20,125,000 after acquiring an additional 45,410 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of McEwen Mining in the third quarter valued at about $457,000. Quest Partners LLC purchased a new position in shares of McEwen Mining in the third quarter valued at about $166,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of McEwen Mining by 66.5% in the third 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 acquiring an additional 157,300 shares in the last quarter. Institutional investors own 17.03% of the company’s stock.

McEwen Mining Price Performance

NYSE:MUX opened at $7.11 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $376.03 million, a P/E ratio of 3.24 and a beta of 1.42. McEwen Mining Inc has a 12 month low of $5.92 and a 12 month high of $12.50. The business’s 50-day moving average is $7.99 and its 200 day moving average is $8.77.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. StockNews.com downgraded McEwen Mining from a “hold” rating to a “sell” rating in a research report on Wednesday, February 19th. Roth Mkm lowered their price objective on McEwen Mining from $12.75 to $12.25 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, HC Wainwright lowered their price objective on McEwen Mining from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th.

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.