McEwen Mining Inc (NYSE:MUX) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its position in shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 16.9% during the second quarter, Holdings Channel reports. The firm owned 372,195 shares of the basic materials company’s stock after selling 75,573 shares during the quarter. Millennium Management LLC’s holdings in McEwen Mining were worth $3,417,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp lifted its stake in McEwen Mining by 1.0% during the 1st quarter. Van ECK Associates Corp now owns 2,050,635 shares of the basic materials company’s stock worth $20,219,000 after acquiring an additional 20,587 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted 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 worth $10,881,000 after purchasing an additional 40,205 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of McEwen Mining during the first quarter worth about $529,000. Quantbot Technologies LP boosted its stake in shares of McEwen Mining by 130.4% in the first quarter. Quantbot Technologies LP now owns 54,401 shares of the basic materials company’s stock valued at $536,000 after purchasing an additional 30,788 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of McEwen Mining in the first quarter valued at approximately $1,023,000. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

McEwen Mining Price Performance

MUX stock opened at $10.06 on Monday. The business’s 50-day moving average is $9.14 and its two-hundred day moving average is $10.06. 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 firm has a market capitalization of $513.76 million, a P/E ratio of 5.47 and a beta of 1.44. 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 issued its earnings results on Wednesday, August 7th. The basic materials company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.04). McEwen Mining had a net margin of 46.32% and a return on equity of 18.08%. The firm had revenue of $47.48 million during the quarter, compared to analyst estimates of $43.90 million. During the same period last year, the business earned ($0.46) EPS. Analysts anticipate that McEwen Mining Inc will post -0.73 earnings per share for the current fiscal year.

About McEwen Mining

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.