McEwen Inc. $MUX Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its stake in shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) by 56.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,001,596 shares of the basic materials company’s stock after purchasing an additional 360,857 shares during the quarter. BNP Paribas Financial Markets’ holdings in McEwen were worth $18,540,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC increased its stake in McEwen by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 522,435 shares of the basic materials company’s stock valued at $9,673,000 after purchasing an additional 1,461 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in McEwen during the 4th quarter valued at approximately $40,000. Verition Fund Management LLC increased its stake in McEwen by 6.3% during the 3rd quarter. Verition Fund Management LLC now owns 58,252 shares of the basic materials company’s stock valued at $996,000 after purchasing an additional 3,452 shares in the last quarter. National Bank of Canada FI increased its stake in McEwen by 3,328.3% during the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 3,528 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in McEwen by 7.6% during the 2nd quarter. American Century Companies Inc. now owns 109,210 shares of the basic materials company’s stock valued at $1,050,000 after purchasing an additional 7,702 shares in the last quarter. Institutional investors and hedge funds own 17.03% of the company’s stock.

Wall Street Analysts Forecast Growth

MUX has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of McEwen from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Roth Mkm upped their price target on shares of McEwen from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. HC Wainwright increased their price objective on shares of McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Weiss Ratings lowered shares of McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Zacks Research upgraded shares of McEwen from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, McEwen has a consensus rating of “Moderate Buy” and a consensus target price of $29.83.

McEwen Stock Down 13.7%

NYSE:MUX opened at $18.27 on Friday. The firm has a market capitalization of $1.09 billion, a P/E ratio of 15.48 and a beta of 1.17. McEwen Inc. has a 1-year low of $8.95 and a 1-year high of $29.70. The company’s fifty day moving average price is $22.41 and its 200-day moving average price is $22.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.14 and a quick ratio of 0.81.

McEwen (NYSE:MUX) (TSE:MUX) last released its quarterly earnings data on Thursday, March 12th. The basic materials company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.41. The firm had revenue of $64.60 million for the quarter, compared to analyst estimates of $72.83 million. McEwen had a net margin of 31.40% and a return on equity of 13.65%. As a group, equities research analysts anticipate that McEwen Inc. will post 1.06 EPS for the current year.

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.