Y Intercept Hong Kong Ltd Makes New Investment in McEwen Mining Inc (NYSE:MUX)

Y Intercept Hong Kong Ltd purchased a new stake in shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 18,903 shares of the basic materials company’s stock, valued at approximately $176,000.

A number of other large investors have also recently modified their holdings of MUX. Van ECK Associates Corp raised its stake in 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 purchasing an additional 45,410 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew 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 buying an additional 157,300 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of McEwen Mining by 41.3% in the 2nd quarter. Renaissance Technologies LLC now owns 196,910 shares of the basic materials company’s stock worth $1,808,000 after buying an additional 57,600 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of McEwen Mining by 28.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 96,730 shares of the basic materials company’s stock valued at $888,000 after buying an additional 21,479 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of McEwen Mining by 100.1% during the 2nd quarter. Bank of Montreal Can now owns 82,905 shares of the basic materials company’s stock worth $780,000 after acquiring an additional 41,480 shares during the last quarter. Institutional investors own 17.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. HC Wainwright increased their target price on McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Roth Mkm lowered their price objective on McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, StockNews.com cut shares of McEwen Mining from a “hold” rating to a “sell” rating in a report on Saturday, November 30th.

McEwen Mining Stock Performance

McEwen Mining stock opened at $7.85 on Friday. 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 firm has a market cap of $415.46 million, a P/E ratio of 3.58 and a beta of 1.43. McEwen Mining Inc has a 1-year low of $5.92 and a 1-year high of $12.50. The firm has a 50-day moving average of $9.10 and a 200-day moving average of $9.34.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.08). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The business had revenue of $52.25 million during the quarter, compared to analysts’ expectations of $48.60 million. During the same quarter last year, the business posted ($0.39) EPS. Sell-side analysts expect that McEwen Mining Inc will post -0.68 EPS for the current year.

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.