Perry Ing Sells 23,332 Shares of McEwen Mining Inc (NYSE:MUX) Stock

McEwen Mining Inc (NYSE:MUXGet Free Report) (TSE:MUX) CFO Perry Ing sold 23,332 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $9.76, for a total value of $227,720.32. Following the transaction, the chief financial officer now owns 15,551 shares of the company’s stock, valued at approximately $151,777.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

McEwen Mining Stock Down 1.2 %

Shares of McEwen Mining stock opened at $9.62 on Friday. The stock’s fifty day moving average is $11.13 and its 200-day moving average is $8.88. The firm has a market capitalization of $475.32 million, a PE ratio of 5.87 and a beta of 1.51. The company has a quick ratio of 0.85, a current ratio of 1.37 and a debt-to-equity ratio of 0.08. McEwen Mining Inc has a 12-month low of $5.92 and a 12-month high of $12.50.

McEwen Mining (NYSE:MUXGet Free Report) (TSE:MUX) last announced its earnings results on Wednesday, May 8th. The basic materials company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.38). The company had revenue of $41.23 million for the quarter, compared to analyst estimates of $39.80 million. McEwen Mining had a return on equity of 16.46% and a net margin of 44.83%. Equities analysts anticipate that McEwen Mining Inc will post -0.7 earnings per share for the current year.

Institutional Investors Weigh In On McEwen Mining

A number of institutional investors and hedge funds have recently modified their holdings of MUX. Quadrature Capital Ltd purchased a new position in shares of McEwen Mining during the third quarter valued at $72,000. Rathbones Group PLC purchased a new position in shares of McEwen Mining during the third quarter valued at $74,000. Paloma Partners Management Co purchased a new position in shares of McEwen Mining during the first quarter valued at $117,000. Fifth Third Bancorp purchased a new position in shares of McEwen Mining during the fourth quarter valued at $98,000. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of McEwen Mining during the fourth quarter valued at $107,000. 17.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MUX shares. HC Wainwright boosted their price objective on McEwen Mining from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Roth Mkm reissued a “buy” rating and issued a $12.00 price objective (up previously from $11.00) on shares of McEwen Mining in a research note on Friday, May 10th. Finally, TheStreet raised McEwen Mining from a “d” rating to a “c” rating in a research note on Friday, March 1st.

View Our Latest Report on MUX

About McEwen Mining

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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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