Tidal Investments LLC Has $1.42 Million Stock Holdings in McEwen Mining Inc (NYSE:MUX)

Tidal Investments LLC lifted its stake in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 1.8% during the third quarter, Holdings Channel.com reports. The fund owned 152,859 shares of the basic materials company’s stock after buying an additional 2,632 shares during the period. Tidal Investments LLC’s holdings in McEwen Mining were worth $1,422,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MUX. Fifth Third Bancorp bought a new position in shares of McEwen Mining during the second quarter worth approximately $32,000. Quarry LP bought a new position in shares of McEwen Mining during the third quarter worth approximately $51,000. Banque Cantonale Vaudoise acquired a new stake in shares of McEwen Mining in the second quarter valued at approximately $78,000. Private Advisor Group LLC bought a new stake in shares of McEwen Mining in the third quarter valued at approximately $99,000. Finally, Rathbones Group PLC bought a new stake in shares of McEwen Mining in the second quarter valued at approximately $101,000. 17.03% of the stock is owned by institutional investors.

McEwen Mining Trading Down 6.4 %

NYSE MUX opened at $7.87 on Thursday. The firm has a market capitalization of $416.52 million, a PE ratio of 3.59 and a beta of 1.43. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $9.15 and its two-hundred day moving average price is $9.35. McEwen Mining Inc has a 12 month low of $5.92 and a 12 month high of $12.50.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. The firm had revenue of $52.25 million during the quarter, compared to the consensus estimate of $48.60 million. During the same period in the previous year, the firm earned ($0.39) earnings per share. On average, analysts expect that McEwen Mining Inc will post -0.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MUX shares. StockNews.com lowered McEwen Mining from a “hold” rating to a “sell” rating in a research note on Saturday, November 30th. HC Wainwright upped their price target on shares of McEwen Mining from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Roth Mkm reduced their target price on McEwen Mining from $12.75 to $12.25 and set a “buy” rating on the stock in a report on Thursday, November 7th.

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.