AlphaQuest LLC Decreases Stake in McEwen Mining Inc (NYSE:MUX)

AlphaQuest LLC reduced its stake in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 69.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,510 shares of the basic materials company’s stock after selling 12,341 shares during the period. AlphaQuest LLC’s holdings in McEwen Mining were worth $43,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MUX. GSA Capital Partners LLP purchased a new position in McEwen Mining in the 3rd quarter worth approximately $457,000. Quest Partners LLC purchased a new position in McEwen Mining in the 3rd quarter worth approximately $166,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in McEwen Mining by 66.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,719 shares of the basic materials company’s stock worth $3,659,000 after purchasing an additional 157,300 shares during the period. Quantbot Technologies LP purchased a new position in McEwen Mining in the 3rd quarter worth approximately $230,000. Finally, PDT Partners LLC purchased a new position in McEwen Mining in the 3rd quarter worth approximately $101,000. 17.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of McEwen Mining in a research note on Wednesday. StockNews.com cut McEwen Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, February 19th.

McEwen Mining Price Performance

MUX opened at $8.35 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17. McEwen Mining Inc has a 52-week low of $6.46 and a 52-week high of $12.50. The stock has a market capitalization of $441.66 million, a PE ratio of 3.81 and a beta of 1.39. The stock’s 50 day moving average price is $7.76 and its 200-day moving average price is $8.55.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings results on Friday, March 14th. The basic materials company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $33.52 million during the quarter, compared to analysts’ expectations of $32.20 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. On average, equities research analysts predict that McEwen Mining Inc will post -0.72 EPS for the current year.

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.