McEwen Mining Inc (MUX) Downgraded by BidaskClub
McEwen Mining Inc (NYSE:MUX) (TSE:MUX) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.
MUX has been the subject of a number of other research reports. Zacks Investment Research upgraded McEwen Mining from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a report on Saturday, April 22nd. TheStreet upgraded McEwen Mining from a “d+” rating to a “c” rating in a report on Friday, June 16th. Finally, ValuEngine lowered McEwen Mining from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th.
Shares of McEwen Mining (NYSE MUX) traded down 2.73% during midday trading on Thursday, hitting $2.49. The stock had a trading volume of 1,864,099 shares. The company’s 50-day moving average price is $2.72 and its 200-day moving average price is $3.19. The firm has a market cap of $776.56 million, a price-to-earnings ratio of 146.47 and a beta of -1.25. McEwen Mining has a 12-month low of $2.47 and a 12-month high of $4.92.
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Several hedge funds have recently made changes to their positions in the company. Tudor Investment Corp Et Al purchased a new stake in shares of McEwen Mining during the fourth quarter valued at about $104,000. Highbridge Capital Management LLC purchased a new stake in shares of McEwen Mining during the fourth quarter valued at about $106,000. Suntrust Banks Inc. raised its stake in shares of McEwen Mining by 2.7% in the first quarter. Suntrust Banks Inc. now owns 35,564 shares of the basic materials company’s stock valued at $108,000 after buying an additional 946 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of McEwen Mining during the first quarter valued at about $110,000. Finally, Smith Affiliated Capital Corp. raised its stake in shares of McEwen Mining by 35.6% in the first quarter. Smith Affiliated Capital Corp. now owns 40,000 shares of the basic materials company’s stock valued at $122,000 after buying an additional 10,500 shares in the last quarter. Institutional investors and hedge funds own 31.80% of the company’s stock.
McEwen Mining Company Profile
McEwen Mining Inc is a mining and minerals production and exploration company. The Company is focused on precious and base metals in Argentina, Mexico and the United States. The Company’s segments include Mexico, Minera Santa Cruz SA (MSC), Nevada and Los Azules. The Mexico Operations segment includes properties, such as El Gallo 1 mine and the El Gallo 2 project.
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