McEwen Mining Inc (NYSE:MUX) Stake Boosted by Perritt Capital Management Inc.

Perritt Capital Management Inc. lifted its stake in shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 23.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 617,800 shares of the basic materials company’s stock after purchasing an additional 117,800 shares during the quarter. Perritt Capital Management Inc.’s holdings in McEwen Mining were worth $1,081,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in MUX. Pictet Asset Management Ltd. lifted its holdings in shares of McEwen Mining by 134.8% in the 1st quarter. Pictet Asset Management Ltd. now owns 24,732 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 14,200 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in McEwen Mining during the 1st quarter valued at approximately $45,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in McEwen Mining during the 2nd quarter worth $51,000. First Republic Investment Management Inc. grew its stake in McEwen Mining by 39.1% during the 1st quarter. First Republic Investment Management Inc. now owns 35,050 shares of the basic materials company’s stock worth $53,000 after buying an additional 9,850 shares during the last quarter. Finally, Aperio Group LLC grew its stake in McEwen Mining by 25.1% during the 2nd quarter. Aperio Group LLC now owns 184,014 shares of the basic materials company’s stock worth $322,000 after buying an additional 36,864 shares during the last quarter. Institutional investors and hedge funds own 25.42% of the company’s stock.

In related news, Director Richard W. Brissenden sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $2.01, for a total transaction of $50,250.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 22.70% of the stock is owned by company insiders.

MUX stock traded up $0.02 during trading on Wednesday, reaching $1.77. 267,659 shares of the company’s stock were exchanged, compared to its average volume of 3,686,117. McEwen Mining Inc has a 1-year low of $1.23 and a 1-year high of $2.44. The firm has a market cap of $655.24 million, a PE ratio of -13.65 and a beta of -0.47. The company’s fifty day moving average price is $1.90 and its 200-day moving average price is $1.65. The company has a quick ratio of 0.94, a current ratio of 1.90 and a debt-to-equity ratio of 0.11.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings data on Tuesday, July 30th. The basic materials company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). The company had revenue of $36.38 million for the quarter, compared to the consensus estimate of $34.92 million. McEwen Mining had a negative net margin of 55.09% and a negative return on equity of 11.81%. As a group, sell-side analysts expect that McEwen Mining Inc will post -0.07 earnings per share for the current fiscal year.

A number of equities research analysts have issued reports on the company. ValuEngine upgraded McEwen Mining from a “hold” rating to a “buy” rating in a research note on Monday, June 17th. Zacks Investment Research raised shares of McEwen Mining from a “sell” rating to a “hold” rating in a report on Tuesday. HC Wainwright upped their price target on shares of McEwen Mining from $2.50 to $3.50 and gave the stock a “buy” rating in a research report on Monday, August 19th. Finally, B. Riley assumed coverage on shares of McEwen Mining in a research report on Tuesday. They issued a “buy” rating and a $4.20 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $3.85.

About McEwen Mining

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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Institutional Ownership by Quarter for McEwen Mining (NYSE:MUX)

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