Virtu Financial LLC Increases Position in McEwen Mining Inc (NYSE:MUX)

Virtu Financial LLC raised its holdings in shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 32.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,555 shares of the basic materials company’s stock after purchasing an additional 4,046 shares during the quarter. Virtu Financial LLC’s holdings in McEwen Mining were worth $154,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of McEwen Mining by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 471,119 shares of the basic materials company’s stock worth $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 $176,000. Quarry LP bought a new stake in McEwen Mining during the third quarter valued at $51,000. Point72 Asset Management L.P. bought a new position in shares of McEwen Mining in the 3rd quarter worth about $267,000. Finally, Paloma Partners Management Co acquired a new position in shares of McEwen Mining in the 3rd quarter valued at about $327,000. Institutional investors and hedge funds own 17.03% of the company’s stock.

Analyst Upgrades and Downgrades

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

McEwen Mining Price Performance

Shares of MUX opened at $7.87 on Thursday. The stock’s fifty day moving average is $9.15 and its 200-day moving average is $9.35. The firm has a market capitalization of $416.52 million, a price-to-earnings ratio of 3.59 and a beta of 1.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17. McEwen Mining Inc has a one year low of $5.92 and a one year high of $12.50.

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

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.