McEwen Mining Inc. (MUX) Trading Up 1.9%
McEwen Mining Inc. (NYSE:MUX) was up 1.9% during mid-day trading on Tuesday . The company traded as high as $3.75 and last traded at $3.71, with a volume of 3,232,225 shares traded. The stock had previously closed at $3.64.
Separately, Zacks Investment Research upgraded shares of McEwen Mining from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a research report on Thursday, July 28th.
The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 123.67 and a beta of 0.64. The stock has a 50 day moving average price of $4.07 and a 200 day moving average price of $3.17.
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The business also recently disclosed a semiannual dividend, which was paid on Monday, August 29th. Shareholders of record on Wednesday, August 24th were given a dividend of $0.005 per share. The ex-dividend date was Monday, August 22nd. This represents a yield of 0.23%. McEwen Mining’s dividend payout ratio (DPR) is 33.34%.
In related news, President Colin Sutherland acquired 15,166 shares of McEwen Mining stock in a transaction on Tuesday, June 28th. The stock was purchased at an average cost of $3.55 per share, with a total value of $53,839.30. Following the completion of the transaction, the president now directly owns 470,000 shares in the company, valued at approximately $1,668,500. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 26.60% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in McEwen Mining by 15.1% in the first quarter. JPMorgan Chase & Co. now owns 3,245,258 shares of the company’s stock worth $6,101,000 after buying an additional 425,111 shares during the period. Renaissance Technologies LLC boosted its position in McEwen Mining by 332.3% in the first quarter. Renaissance Technologies LLC now owns 1,338,909 shares of the company’s stock worth $2,517,000 after buying an additional 1,029,209 shares during the period. UBS Group AG boosted its position in McEwen Mining by 628.2% in the first quarter. UBS Group AG now owns 628,806 shares of the company’s stock worth $1,182,000 after buying an additional 542,456 shares during the period. Geode Capital Management LLC boosted its position in McEwen Mining by 12.2% in the first quarter. Geode Capital Management LLC now owns 1,255,309 shares of the company’s stock worth $2,359,000 after buying an additional 136,964 shares during the period. Finally, BlackRock Group LTD boosted its position in McEwen Mining by 48.1% in the first quarter. BlackRock Group LTD now owns 447,527 shares of the company’s stock worth $842,000 after buying an additional 145,297 shares during the period. 24.61% of the stock is owned by hedge funds and other institutional investors.
About McEwen Mining
McEwen Mining Inc is a mining and minerals exploration company. The Company is focused on precious and base metals in Argentina, Mexico and the United States. Its segments include Mexico, Argentina and the United States. It classifies its mineral properties into Production Properties, Advanced-Stage Properties and Exploration Properties.
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