Susquehanna Fundamental Investments LLC Lowers Stock Holdings in McEwen Mining Inc (NYSE:MUX)

Susquehanna Fundamental Investments LLC lowered its stake in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 99,386 shares of the basic materials company’s stock after selling 4,400 shares during the period. Susquehanna Fundamental Investments LLC owned 0.19% of McEwen Mining worth $912,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MUX. Van ECK Associates Corp increased its stake in McEwen Mining by 3.3% during the 2nd quarter. Van ECK Associates Corp now owns 2,118,520 shares of the basic materials company’s stock valued at $19,448,000 after purchasing an additional 67,885 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of McEwen Mining by 3.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,103,550 shares of the basic materials company’s stock valued at $10,881,000 after acquiring an additional 40,205 shares in the last quarter. Polunin Capital Partners Ltd purchased a new position in McEwen Mining in the 1st quarter worth approximately $6,730,000. Vanguard Group Inc. lifted 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 valued at $6,074,000 after acquiring an additional 6,082 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in McEwen Mining by 41.3% during the 2nd quarter. Renaissance Technologies LLC now owns 196,910 shares of the basic materials company’s stock valued at $1,808,000 after purchasing an additional 57,600 shares during the last quarter. Institutional investors own 17.03% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut McEwen Mining from a “hold” rating to a “sell” rating in a research note on Thursday, July 11th.

McEwen Mining Price Performance

Shares of McEwen Mining stock opened at $9.31 on Thursday. McEwen Mining Inc has a twelve month low of $5.92 and a twelve month high of $12.50. The company has a quick ratio of 1.21, a current ratio of 1.68 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $9.05 and its 200 day moving average is $10.02. The company has a market cap of $474.56 million, a price-to-earnings ratio of 5.68 and a beta of 1.43.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released 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 quarter last year, the business earned ($0.46) earnings per share. Research analysts anticipate that McEwen Mining Inc will post -0.81 EPS for the current year.

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.