American Century Companies Inc. Boosts Holdings in McEwen Mining Inc (NYSE:MUX)

American Century Companies Inc. boosted its stake in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 21.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,234 shares of the basic materials company’s stock after acquiring an additional 11,667 shares during the period. American Century Companies Inc. owned 0.13% of McEwen Mining worth $599,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new position in shares of McEwen Mining in the first quarter valued at $1,348,000. Susquehanna Fundamental Investments LLC bought a new position in shares of McEwen Mining in the first quarter valued at approximately $1,023,000. GSA Capital Partners LLP bought a new position in shares of McEwen Mining in the first quarter valued at approximately $529,000. Quantbot Technologies LP grew its stake in McEwen Mining by 130.4% during the first quarter. Quantbot Technologies LP now owns 54,401 shares of the basic materials company’s stock valued at $536,000 after acquiring an additional 30,788 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings 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 worth $19,448,000 after acquiring an additional 67,885 shares during the period. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

McEwen Mining Price Performance

Shares of NYSE MUX opened at $9.31 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.21 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $9.05 and a 200-day moving average of $10.02. The firm has a market capitalization of $474.56 million, a price-to-earnings ratio of 5.68 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.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its earnings results on Wednesday, August 7th. The basic materials company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.04). The company 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 firm posted ($0.46) earnings per share. Sell-side analysts expect that McEwen Mining Inc will post -0.81 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.