Susquehanna Fundamental Investments LLC Invests $1.02 Million in McEwen Mining Inc (NYSE:MUX)

Susquehanna Fundamental Investments LLC acquired a new position in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 103,786 shares of the basic materials company’s stock, valued at approximately $1,023,000. Susquehanna Fundamental Investments LLC owned approximately 0.21% of McEwen Mining at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fifth Third Bancorp purchased a new stake in shares of McEwen Mining in the fourth quarter worth $98,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of McEwen Mining during the fourth quarter worth $107,000. Dynamic Technology Lab Private Ltd bought a new position in shares of McEwen Mining during the fourth quarter worth $377,000. GSA Capital Partners LLP bought a new position in shares of McEwen Mining during the first quarter worth $529,000. Finally, Jump Financial LLC increased its stake in McEwen Mining by 154.0% in the 4th quarter. Jump Financial LLC now owns 74,263 shares of the basic materials company’s stock worth $535,000 after buying an additional 45,020 shares during the period. 17.03% of the stock is owned by hedge funds and other institutional investors.

McEwen Mining Stock Down 0.3 %

Shares of McEwen Mining stock traded down $0.03 on Monday, reaching $10.18. The stock had a trading volume of 129,795 shares, compared to its average volume of 718,981. The company has a 50 day moving average price of $10.57 and a 200 day moving average price of $9.13. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 0.08. McEwen Mining Inc has a 1 year low of $5.92 and a 1 year high of $12.50. The stock has a market capitalization of $518.87 million, a P/E ratio of 6.26 and a beta of 1.40.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its earnings results on Wednesday, May 8th. The basic materials company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.38). The company had revenue of $41.23 million during the quarter, compared to analyst estimates of $39.80 million. McEwen Mining had a return on equity of 16.46% and a net margin of 44.83%. As a group, equities research analysts forecast that McEwen Mining Inc will post -0.7 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Carmen L. Diges sold 17,066 shares of McEwen Mining stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $9.44, for a total value of $161,103.04. Following the completion of the sale, the general counsel now directly owns 10,982 shares in the company, valued at approximately $103,670.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McEwen Mining news, General Counsel Carmen L. Diges sold 17,066 shares of McEwen Mining stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $9.44, for a total transaction of $161,103.04. Following the completion of the sale, the general counsel now directly owns 10,982 shares in the company, valued at approximately $103,670.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Perry Ing sold 23,332 shares of McEwen Mining stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $9.76, for a total transaction of $227,720.32. Following the sale, the chief financial officer now owns 15,551 shares of the company’s stock, valued at $151,777.76. The disclosure for this sale can be found here. Insiders sold 42,901 shares of company stock worth $413,353 in the last three months. Corporate insiders own 17.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MUX has been the topic of a number of research reports. HC Wainwright raised their target price on shares of McEwen Mining from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, May 13th. StockNews.com downgraded shares of McEwen Mining from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Roth Mkm reissued a “buy” rating and set a $12.00 target price (up previously from $11.00) on shares of McEwen Mining in a research report on Friday, May 10th.

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.