McEwen Mining (NYSE:MUX) Downgraded to “Sell” Rating by StockNews.com

McEwen Mining (NYSE:MUX) (TSE:MUX) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

Other research analysts also recently issued reports about the stock. Roth Mkm dropped their target price on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating on the stock in a research report on Thursday, November 7th. HC Wainwright dropped their target price on shares of McEwen Mining from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th.

McEwen Mining Stock Down 0.2 %

Shares of NYSE MUX traded down $0.02 during mid-day trading on Wednesday, reaching $7.51. The company had a trading volume of 573,996 shares, compared to its average volume of 988,201. The company has a current ratio of 1.17, a quick ratio of 0.74 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $8.09 and a two-hundred day simple moving average of $8.79. The stock has a market cap of $397.57 million, a P/E ratio of 3.43 and a beta of 1.42. McEwen Mining has a 52-week low of $5.92 and a 52-week high of $12.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC grew its position in McEwen Mining by 18.8% during the 4th quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company’s stock worth $98,000 after purchasing an additional 2,000 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of McEwen Mining by 1.8% in the 3rd quarter. Tidal Investments LLC now owns 152,859 shares of the basic materials company’s stock worth $1,422,000 after acquiring an additional 2,632 shares during the period. Virtu Financial LLC lifted its stake in shares of McEwen Mining by 32.3% in the 3rd quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company’s stock worth $154,000 after acquiring an additional 4,046 shares during the period. New Age Alpha Advisors LLC acquired a new stake in shares of McEwen Mining in the 4th quarter worth $38,000. Finally, Quarry LP acquired a new stake in shares of McEwen Mining in the 3rd quarter worth $51,000. 17.03% of the stock is owned by hedge funds and other institutional investors.

McEwen Mining Company 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.