Rathbones Group PLC Invests $101,000 in McEwen Mining Inc (NYSE:MUX)

Rathbones Group PLC bought a new stake in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,000 shares of the basic materials company’s stock, valued at approximately $101,000.

Several other large investors have also recently bought and sold shares of the business. Van ECK Associates Corp boosted its stake in McEwen Mining by 3.3% in the second quarter. Van ECK Associates Corp now owns 2,118,520 shares of the basic materials company’s stock valued at $19,448,000 after acquiring an additional 67,885 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in McEwen Mining by 3.8% in 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 purchasing an additional 40,205 shares during the period. Polunin Capital Partners Ltd acquired a new stake in McEwen Mining in the first quarter valued at about $6,730,000. Vanguard Group Inc. lifted its position in McEwen Mining by 1.0% in the first quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock valued at $6,074,000 after purchasing an additional 6,082 shares during the period. Finally, Tidal Investments LLC purchased a new position in McEwen Mining in the first quarter valued at about $1,348,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at McEwen Mining

In other McEwen Mining news, General Counsel Carmen L. Diges sold 17,066 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $9.44, for a total transaction of $161,103.04. Following the completion of the transaction, the general counsel now directly owns 10,982 shares of the company’s stock, valued at approximately $103,670.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.11% of the stock is currently owned by company insiders.

McEwen Mining Stock Performance

McEwen Mining stock opened at $9.17 on Wednesday. The firm’s fifty day moving average price is $9.16 and its 200 day moving average price is $9.92. The company has a market capitalization of $467.17 million, a price-to-earnings ratio of 5.59 and a beta of 1.43. McEwen Mining Inc has a 12-month low of $5.92 and a 12-month high of $12.50. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.68 and a quick ratio of 1.21.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its 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 for the quarter, compared to analyst estimates of $43.90 million. McEwen Mining had a net margin of 46.32% and a return on equity of 18.08%. During the same period in the previous year, the firm earned ($0.46) earnings per share. On average, research analysts forecast that McEwen Mining Inc will post -0.81 EPS for the current fiscal year.

McEwen Mining 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.