McEwen Mining Inc (NYSE:MUX) Stake Raised by Virtu Financial LLC

Virtu Financial LLC raised its holdings in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 32.3% in the third quarter, Holdings Channel.com reports. The fund owned 16,555 shares of the basic materials company’s stock after acquiring an additional 4,046 shares during the period. Virtu Financial LLC’s holdings in McEwen Mining were worth $154,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Geode Capital Management LLC lifted its stake in McEwen Mining by 5.8% during the third quarter. Geode Capital Management LLC now owns 471,119 shares of the basic materials company’s stock valued at $4,383,000 after purchasing an additional 25,844 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in McEwen Mining in the third quarter worth approximately $176,000. Quarry LP bought a new position in shares of McEwen Mining in the third quarter valued at $51,000. Point72 Asset Management L.P. acquired a new stake in shares of McEwen Mining during the 3rd quarter valued at $267,000. Finally, Paloma Partners Management Co bought a new stake in shares of McEwen Mining during the 3rd quarter worth $327,000. Institutional investors own 17.03% of the company’s stock.

McEwen Mining Price Performance

MUX opened at $7.87 on Thursday. The firm has a market capitalization of $416.52 million, a P/E ratio of 3.59 and a beta of 1.43. The stock has a fifty day moving average of $9.15 and a 200-day moving average of $9.35. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. 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 quarterly earnings data on Tuesday, November 5th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.08). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The business had revenue of $52.25 million during the quarter, compared to analysts’ expectations of $48.60 million. During the same period in the prior year, the company posted ($0.39) earnings per share. Equities analysts forecast that McEwen Mining Inc will post -0.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. StockNews.com lowered McEwen Mining from a “hold” rating to a “sell” rating in a research report on Saturday, November 30th. Roth Mkm cut their price objective on McEwen Mining from $12.75 to $12.25 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, HC Wainwright raised their target price on shares of McEwen Mining from $15.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

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.