Shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) fell 6.1% during trading on Thursday . The stock traded as low as $1.82 and last traded at $1.84, 4,331,156 shares traded hands during mid-day trading. An increase of 77% from the average session volume of 2,440,469 shares. The stock had previously closed at $1.96.

A number of equities analysts have recently issued reports on MUX shares. Zacks Investment Research downgraded shares of Phoenix New Media from a “hold” rating to a “sell” rating in a report on Tuesday. Cantor Fitzgerald increased their price target on shares of Horizon Therapeutics from $26.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. ValuEngine upgraded shares of United Overseas Bank from a “sell” rating to a “hold” rating in a report on Monday, June 17th. Finally, HC Wainwright set a $3.00 price target on shares of McEwen Mining and gave the company a “buy” rating in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. McEwen Mining currently has an average rating of “Buy” and an average price target of $3.00.

The company has a debt-to-equity ratio of 0.11, a current ratio of 1.99 and a quick ratio of 1.06. The business’s fifty day moving average price is $1.71. The firm has a market cap of $655.20 million, a PE ratio of -14.00 and a beta of -0.41.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its earnings results on Tuesday, April 30th. The basic materials company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01). McEwen Mining had a negative net margin of 48.87% and a negative return on equity of 10.14%. The business had revenue of $15.64 million for the quarter, compared to analysts’ expectations of $25.03 million. Analysts expect that McEwen Mining Inc will post -0.06 earnings per share for the current fiscal year.

In other McEwen Mining news, Director Richard W. Brissenden sold 26,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $1.93, for a total transaction of $50,180.00. Following the completion of the transaction, the director now directly owns 4,000 shares in the company, valued at approximately $7,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 22.70% of the company’s stock.

Large investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV purchased a new position in McEwen Mining during the 1st quarter valued at about $54,000. Wedbush Securities Inc. grew its holdings in shares of McEwen Mining by 1,178.4% during the first quarter. Wedbush Securities Inc. now owns 130,401 shares of the basic materials company’s stock worth $196,000 after buying an additional 120,201 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of McEwen Mining by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 1,879,565 shares of the basic materials company’s stock worth $3,420,000 after buying an additional 116,048 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of McEwen Mining by 5,370.5% during the fourth quarter. Deutsche Bank AG now owns 1,817,955 shares of the basic materials company’s stock worth $3,308,000 after buying an additional 1,784,723 shares in the last quarter. Finally, Heathbridge Capital Management Ltd. purchased a new stake in shares of McEwen Mining during the first quarter worth about $60,000. Hedge funds and other institutional investors own 25.21% of the company’s stock.

McEwen Mining Company Profile (NYSE:MUX)

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.

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