McEwen Mining (NYSE:MUX) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of McEwen Mining (NYSE:MUX) (TSE:MUX) from a sell rating to a hold rating in a research note issued to investors on Monday.

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

McEwen Mining Stock Up 0.9 %

McEwen Mining stock opened at $7.45 on Monday. The firm has a market cap of $394.03 million, a price-to-earnings ratio of 3.40 and a beta of 1.42. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17. The firm has a 50 day moving average price of $8.27 and a two-hundred day moving average price of $8.86. McEwen Mining has a 52-week low of $5.92 and a 52-week high of $12.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of McEwen Mining by 1.5% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 399,519 shares of the basic materials company’s stock valued at $3,103,000 after purchasing an additional 5,800 shares in the last quarter. U S Global Investors Inc. bought a new stake in shares of McEwen Mining in the fourth quarter valued at approximately $2,557,000. Sprott Inc. purchased a new position in McEwen Mining during the fourth quarter valued at approximately $100,000. Private Advisor Group LLC grew its stake in McEwen Mining by 18.8% during the fourth 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 in the last quarter. Finally, Empowered Funds LLC purchased a new position in McEwen Mining during the fourth quarter valued at approximately $788,000. 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.