McEwen Mining (NYSE:MUX) Upgraded at StockNews.com

StockNews.com upgraded shares of McEwen Mining (NYSE:MUX) (TSE:MUX) from a sell rating to a hold rating in a research report released on Monday morning.

Other analysts also recently issued research reports about the company. Roth Mkm lowered their price objective on McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research report on Thursday, November 7th. HC Wainwright lowered their price objective on McEwen Mining from $19.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, January 30th.

McEwen Mining Stock Performance

Shares of MUX stock opened at $7.72 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17. McEwen Mining has a fifty-two week low of $5.92 and a fifty-two week high of $12.50. The stock has a 50 day moving average price of $8.21 and a two-hundred day moving average price of $8.84. The company has a market capitalization of $408.54 million, a P/E ratio of 3.53 and a beta of 1.42.

Hedge Funds Weigh In On McEwen Mining

Hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of McEwen Mining by 66.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,719 shares of the basic materials company’s stock valued at $3,659,000 after buying an additional 157,300 shares during the period. Geode Capital Management LLC increased its stake in shares of McEwen Mining by 5.8% during the third quarter. Geode Capital Management LLC now owns 471,119 shares of the basic materials company’s stock valued at $4,383,000 after buying an additional 25,844 shares during the period. Private Advisor Group LLC purchased a new position in shares of McEwen Mining during the third quarter valued at approximately $99,000. GSA Capital Partners LLP purchased a new position in shares of McEwen Mining during the third quarter valued at approximately $457,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of McEwen Mining during the third quarter valued at approximately $176,000. 17.03% of the stock is owned by hedge funds and other institutional investors.

McEwen Mining Company Profile

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.