Carmen L. Diges Sells 17,066 Shares of McEwen Mining Inc (NYSE:MUX) Stock

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) General Counsel Carmen L. Diges sold 17,066 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $9.44, for a total transaction of $161,103.04. Following the completion of the transaction, the general counsel now directly owns 10,982 shares of the company’s stock, valued at approximately $103,670.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

McEwen Mining Trading Down 1.9 %

Shares of McEwen Mining stock opened at $9.33 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.37 and a quick ratio of 0.85. The firm has a fifty day moving average price of $11.02 and a 200 day moving average price of $8.94. McEwen Mining Inc has a 1 year low of $5.92 and a 1 year high of $12.50. The stock has a market cap of $460.99 million, a PE ratio of 5.69 and a beta of 1.51.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its earnings results on Wednesday, May 8th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.38). McEwen Mining had a return on equity of 16.46% and a net margin of 44.83%. The business had revenue of $41.23 million for the quarter, compared to analysts’ expectations of $39.80 million. Equities research analysts predict that McEwen Mining Inc will post -0.7 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Quadrature Capital Ltd purchased a new position in shares of McEwen Mining during the third quarter worth $72,000. Rathbones Group PLC purchased a new position in McEwen Mining in the third quarter valued at $74,000. Fifth Third Bancorp purchased a new position in McEwen Mining in the fourth quarter valued at $98,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in McEwen Mining in the fourth quarter valued at $107,000. Finally, Paloma Partners Management Co purchased a new position in McEwen Mining in the first quarter valued at $117,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MUX. HC Wainwright raised their price target on shares of McEwen Mining from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, May 13th. Roth Mkm reaffirmed a “buy” rating and issued a $12.00 price target (up previously from $11.00) on shares of McEwen Mining in a report on Friday, May 10th. Finally, TheStreet raised shares of McEwen Mining from a “d” rating to a “c” rating in a report on Friday, March 1st.

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.