McEwen Inc. $MUX Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. reduced its holdings in shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 743,747 shares of the basic materials company’s stock after selling 47,224 shares during the quarter. Alps Advisors Inc.’s holdings in McEwen were worth $12,718,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Royal Bank of Canada increased its stake in shares of McEwen by 4,309.4% during the 1st quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company’s stock worth $4,823,000 after purchasing an additional 624,382 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in McEwen by 44.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 63,768 shares of the basic materials company’s stock valued at $481,000 after buying an additional 19,548 shares during the last quarter. Empowered Funds LLC increased its position in McEwen by 105.4% during the first quarter. Empowered Funds LLC now owns 208,100 shares of the basic materials company’s stock worth $1,571,000 after buying an additional 106,800 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of McEwen in the second quarter worth $947,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of McEwen in the second quarter valued at $983,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

McEwen Stock Performance

Shares of MUX stock opened at $25.25 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.58 and a current ratio of 2.10. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -114.77 and a beta of 1.12. McEwen Inc. has a one year low of $6.38 and a one year high of $29.70. The company has a 50 day moving average price of $21.42 and a 200 day moving average price of $17.34.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Roth Mkm reissued a “buy” rating and issued a $30.00 target price (up previously from $23.00) on shares of McEwen in a research note on Friday, January 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of McEwen in a report on Monday, December 29th. Finally, Canaccord Genuity Group set a $25.00 price objective on shares of McEwen and gave the company a “buy” rating in a research note on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

McEwen Profile

McEwen Mining Inc (NYSE: MUX) is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company’s flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.