Connor Clark & Lunn Investment Management Ltd. Purchases 157,300 Shares of McEwen Mining Inc (NYSE:MUX)

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 66.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 393,719 shares of the basic materials company’s stock after acquiring an additional 157,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.74% of McEwen Mining worth $3,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of McEwen Mining by 1.0% in the first quarter. Vanguard Group Inc. now owns 616,066 shares of the basic materials company’s stock worth $6,074,000 after purchasing an additional 6,082 shares during the period. Paloma Partners Management Co bought a new position in McEwen Mining in the 1st quarter worth about $117,000. Tidal Investments LLC purchased a new stake in shares of McEwen Mining in the 1st quarter valued at about $1,348,000. Fifth Third Bancorp bought a new stake in shares of McEwen Mining during the 2nd quarter valued at about $32,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of McEwen Mining during the second quarter worth about $78,000. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on MUX. Roth Mkm dropped their target price on shares of McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research report on Thursday, November 7th. StockNews.com raised shares of McEwen Mining from a “sell” rating to a “hold” rating in a report on Friday. Finally, HC Wainwright increased their target price on McEwen Mining from $15.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

McEwen Mining Trading Down 1.6 %

NYSE:MUX opened at $8.38 on Friday. The firm has a market capitalization of $443.47 million, a P/E ratio of 3.83 and a beta of 1.43. McEwen Mining Inc has a 52 week low of $5.92 and a 52 week high of $12.50. The company has a quick ratio of 0.74, a current ratio of 1.17 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average of $9.49 and a 200 day moving average of $9.70.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings results on Tuesday, November 5th. The basic materials company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.08). The business had revenue of $52.25 million during the quarter, compared to analysts’ expectations of $48.60 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. During the same period in the previous year, the business earned ($0.39) EPS. On average, research analysts predict that McEwen Mining Inc will post -0.68 earnings per share for the current year.

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.