26,848 Shares in McEwen Mining Inc (NYSE:MUX) Acquired by Plancorp LLC

Plancorp LLC acquired a new stake in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 26,848 shares of the basic materials company’s stock, valued at approximately $246,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp grew its stake in shares of McEwen Mining by 3.3% during the second quarter. Van ECK Associates Corp now owns 2,118,520 shares of the basic materials company’s stock worth $19,448,000 after purchasing an additional 67,885 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of McEwen Mining by 3.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,103,550 shares of the basic materials company’s stock worth $10,881,000 after acquiring an additional 40,205 shares in the last quarter. Polunin Capital Partners Ltd acquired a new position in shares of McEwen Mining during the 1st quarter worth about $6,730,000. Vanguard Group Inc. increased its holdings in shares of McEwen Mining by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock valued at $6,074,000 after acquiring an additional 6,082 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of McEwen Mining by 41.3% during the 2nd quarter. Renaissance Technologies LLC now owns 196,910 shares of the basic materials company’s stock worth $1,808,000 after acquiring an additional 57,600 shares in the last quarter. 17.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Carmen L. Diges sold 17,066 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $9.44, for a total value of $161,103.04. Following the completion of the sale, the general counsel now directly owns 10,982 shares of the company’s stock, valued at $103,670.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 17.11% of the stock is currently owned by corporate insiders.

McEwen Mining Price Performance

Shares of NYSE:MUX opened at $9.17 on Wednesday. McEwen Mining Inc has a 12 month low of $5.92 and a 12 month high of $12.50. The firm has a market capitalization of $467.17 million, a P/E ratio of 5.59 and a beta of 1.43. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.68 and a quick ratio of 1.21. The company’s fifty day moving average price is $9.16 and its 200 day moving average price is $9.92.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its earnings results on Wednesday, August 7th. The basic materials company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). McEwen Mining had a return on equity of 18.08% and a net margin of 46.32%. The firm had revenue of $47.48 million for the quarter, compared to analyst estimates of $43.90 million. During the same quarter last year, the firm posted ($0.46) EPS. As a group, sell-side analysts predict that McEwen Mining Inc will post -0.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded McEwen Mining from a “hold” rating to a “sell” rating in a report on Thursday, July 11th.

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.