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

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) CFO Perry Ing sold 23,332 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $9.76, for a total transaction of $227,720.32. Following the transaction, the chief financial officer now owns 15,551 shares in the company, valued at approximately $151,777.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

McEwen Mining Price Performance

Shares of McEwen Mining stock opened at $9.74 on Thursday. The company has a current ratio of 1.37, a quick ratio of 0.85 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $11.17 and a 200-day simple moving average of $8.87. The stock has a market capitalization of $481.25 million, a price-to-earnings ratio of 5.94 and a beta of 1.51. McEwen Mining Inc has a 1-year low of $5.92 and a 1-year high of $12.50.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On McEwen Mining

A number of institutional investors have recently made changes to their positions in MUX. Toronto Dominion Bank lifted its position in shares of McEwen Mining by 25.2% during the 3rd quarter. Toronto Dominion Bank now owns 25,032 shares of the basic materials company’s stock worth $163,000 after purchasing an additional 5,032 shares during the last quarter. Vanguard Group Inc. increased its position in McEwen Mining by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock worth $6,074,000 after buying an additional 6,082 shares during the period. Quadrature Capital Ltd acquired a new position in shares of McEwen Mining during the third quarter worth approximately $72,000. Rathbones Group PLC acquired a new position in shares of McEwen Mining during the third quarter worth approximately $74,000. Finally, Paloma Partners Management Co bought a new stake in shares of McEwen Mining in the first quarter valued at approximately $117,000. 17.03% of the stock is currently owned by 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.