McEwen Mining (NYSE:MUX) Trading Up 8.5%

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) rose 8.5% during trading on Tuesday . The stock traded as high as $9.86 and last traded at $9.85. Approximately 549,484 shares traded hands during trading, a decline of 18% from the average daily volume of 672,103 shares. The stock had previously closed at $9.08.

Analyst Upgrades and Downgrades

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

McEwen Mining Stock Performance

The stock has a market capitalization of $504.12 million, a PE ratio of 5.88 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 business’s fifty day moving average price is $9.05 and its 200-day moving average price is $9.97.

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

Institutional Investors Weigh In On McEwen Mining

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp bought a new position in McEwen Mining during the second quarter valued at approximately $32,000. Vanguard Group Inc. grew its position in McEwen Mining by 1.0% during the first 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. Banque Cantonale Vaudoise bought a new position in McEwen Mining during the second quarter valued at approximately $78,000. Rathbones Group PLC bought a new position in McEwen Mining during the second quarter valued at approximately $101,000. Finally, American Century Companies Inc. grew its holdings in shares of McEwen Mining by 21.8% in the second quarter. American Century Companies Inc. now owns 65,234 shares of the basic materials company’s stock worth $599,000 after purchasing an additional 11,667 shares during the last quarter. 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.