Published On: Wed, Sep 14th, 2016

McEwen Mining Inc. (MUX) Shares Down 6.2%

Shares of McEwen Mining Inc. (NYSE:MUX) were down 6.2% during trading on Tuesday . The stock traded as low as $3.60 and last traded at $3.61, with a volume of 2,824,724 shares trading hands. The stock had previously closed at $3.85.
Separately, Zacks Investment Research upgraded shares of McEwen Mining from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a research note on Thursday, July 28th.
The company has a market capitalization of $1.09 billion, a PE ratio of 121.00 and a beta of 0.64. The company’s 50 day moving average is $4.16 and its 200 day moving average is $3.09.

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The business also recently declared a semiannual dividend, which was paid on Monday, August 29th. Investors of record on Wednesday, August 24th were issued a $0.005 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a yield of 0.23%. McEwen Mining’s dividend payout ratio is presently 33.34%.
In other McEwen Mining news, President Colin Sutherland bought 15,166 shares of the stock in a transaction on Tuesday, June 28th. The stock was purchased at an average price of $3.55 per share, for a total transaction of $53,839.30. Following the completion of the purchase, the president now directly owns 470,000 shares in the company, valued at $1,668,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO William Alexander Faust sold 150,000 shares of the business’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $3.50, for a total transaction of $525,000.00. Following the sale, the chief operating officer now owns 150,400 shares of the company’s stock, valued at approximately $526,400. The disclosure for this sale can be found here. 26.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its stake in McEwen Mining by 31,639.3% in the second quarter. BNP Paribas Arbitrage SA now owns 26,661 shares of the company’s stock valued at $103,000 after buying an additional 26,577 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in McEwen Mining during the second quarter valued at $116,000. Teacher Retirement System of Texas raised its stake in McEwen Mining by 16.4% in the second quarter. Teacher Retirement System of Texas now owns 31,850 shares of the company’s stock valued at $123,000 after buying an additional 4,483 shares during the last quarter. TFS Capital LLC acquired a new stake in McEwen Mining during the second quarter valued at $124,000. Finally, Private Advisor Group LLC raised its stake in McEwen Mining by 34.5% in the second quarter. Private Advisor Group LLC now owns 29,367 shares of the company’s stock valued at $129,000 after buying an additional 7,528 shares during the last quarter. Hedge funds and other institutional investors own 24.61% of the company’s stock.
McEwen Mining Company Profile
McEwen Mining Inc is a mining and minerals exploration company. The Company is focused on precious and base metals in Argentina, Mexico and the United States. Its segments include Mexico, Argentina and the United States. It classifies its mineral properties into Production Properties, Advanced-Stage Properties and Exploration Properties.

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