Plancorp LLC Acquires New Stake in McEwen Mining Inc (NYSE:MUX)

Plancorp LLC bought a new position in shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 26,848 shares of the basic materials company’s stock, valued at approximately $246,000. Plancorp LLC owned about 0.05% of McEwen Mining as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MUX. Tidal Investments LLC acquired a new position in McEwen Mining during the first quarter worth about $1,348,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of McEwen Mining during the 1st quarter worth approximately $1,023,000. GSA Capital Partners LLP acquired a new stake in shares of McEwen Mining in the first quarter valued at approximately $529,000. Quantbot Technologies LP increased its holdings 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 last quarter. Finally, Vanguard Group Inc. boosted its stake in McEwen Mining by 1.0% during the first quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock worth $6,074,000 after buying an additional 6,082 shares during the last quarter. Hedge funds and other institutional investors own 17.03% of the company’s stock.

McEwen Mining Stock Down 2.7 %

MUX stock opened at $9.17 on Wednesday. McEwen Mining Inc has a one year low of $5.92 and a one year high of $12.50. The firm has a market cap of $467.17 million, a PE ratio of 5.59 and a beta of 1.43. The firm’s 50 day moving average price is $9.16 and its 200-day moving average price is $9.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.21 and a current ratio of 1.68.

McEwen Mining (NYSE:MUX) (TSE:MUX) last posted its earnings results on Wednesday, August 7th. The basic materials company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). The business had revenue of $47.48 million during the quarter, compared to analysts’ expectations of $43.90 million. McEwen Mining had a net margin of 46.32% and a return on equity of 18.08%. During the same quarter in the prior year, the firm earned ($0.46) EPS. On average, equities research analysts anticipate that McEwen Mining Inc will post -0.81 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at McEwen Mining

In other McEwen Mining news, General Counsel Carmen L. Diges sold 17,066 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $9.44, for a total transaction of $161,103.04. Following the sale, the general counsel now directly owns 10,982 shares in the company, valued at approximately $103,670.08. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 17.11% of the company’s stock.

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.