Allen V. Ambrose Purchases 19,230 Shares of McEwen Mining Inc (MUX) Stock

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) Director Allen V. Ambrose purchased 19,230 shares of the stock in a transaction on Wednesday, May 16th. The shares were bought at an average price of $2.08 per share, for a total transaction of $39,998.40. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

McEwen Mining traded up $0.05, hitting $2.12, during midday trading on Thursday, MarketBeat Ratings reports. 1,033,327 shares of the company traded hands, compared to its average volume of 2,636,561. McEwen Mining Inc has a twelve month low of $2.06 and a twelve month high of $2.10. The company has a market cap of $707.82 million, a PE ratio of -70.67 and a beta of -1.17.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings results on Wednesday, May 2nd. The basic materials company reported ($0.01) EPS for the quarter. McEwen Mining had a negative net margin of 13.62% and a negative return on equity of 2.16%. The company had revenue of $41.29 million for the quarter, compared to analyst estimates of $31.60 million.

Several equities analysts have commented on MUX shares. ValuEngine upgraded McEwen Mining from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research downgraded McEwen Mining from a “hold” rating to a “sell” rating in a report on Friday, January 19th. Finally, TheStreet downgraded McEwen Mining from a “c-” rating to a “d+” rating in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $4.00.

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its holdings in McEwen Mining by 131.1% during the fourth quarter. Renaissance Technologies LLC now owns 52,000 shares of the basic materials company’s stock valued at $119,000 after purchasing an additional 29,500 shares during the last quarter. IPG Investment Advisors LLC acquired a new stake in shares of McEwen Mining in the fourth quarter worth $137,000. Teacher Retirement System of Texas grew its stake in shares of McEwen Mining by 319.3% in the fourth quarter. Teacher Retirement System of Texas now owns 91,698 shares of the basic materials company’s stock worth $209,000 after acquiring an additional 69,827 shares during the last quarter. Aperio Group LLC grew its stake in shares of McEwen Mining by 245.9% in the fourth quarter. Aperio Group LLC now owns 134,224 shares of the basic materials company’s stock worth $306,000 after acquiring an additional 95,416 shares during the last quarter. Finally, HAP Trading LLC acquired a new stake in shares of McEwen Mining in the fourth quarter worth $363,000. Institutional investors own 29.63% of the company’s stock.

About McEwen Mining

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. The company owns 100% interests in the El Gallo 1 mine and El Gallo 2 project in the state of Sinaloa, Mexico; and the Black Fox Complex, Buffalo Ankerite, Fuller, Davidson Tisdale, and Black Fox North properties in Canada.

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