Oppenheimer & Close LLC Cuts Stock Position in McEwen Mining Inc (NYSE:MUX)

Oppenheimer & Close LLC trimmed its holdings in shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 50.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 11,252 shares of the basic materials company’s stock after selling 11,530 shares during the quarter. Oppenheimer & Close LLC’s holdings in McEwen Mining were worth $88,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MUX. Quarry LP purchased a new stake in McEwen Mining during the 3rd quarter valued at $51,000. Private Advisor Group LLC boosted its stake 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 valued at $98,000 after purchasing an additional 2,000 shares during the last quarter. Sprott Inc. bought a new position in shares of McEwen Mining during the 4th quarter valued at $100,000. PDT Partners LLC bought a new position in shares of McEwen Mining during the 3rd quarter valued at $101,000. Finally, Virtu Financial LLC lifted its holdings in shares of McEwen Mining by 32.3% during the 3rd quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company’s stock valued at $154,000 after buying an additional 4,046 shares during the period. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

McEwen Mining Trading Down 8.2 %

Shares of NYSE MUX opened at $7.66 on Friday. The business’s 50 day moving average is $7.75 and its two-hundred day moving average is $8.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. McEwen Mining Inc has a 1-year low of $6.46 and a 1-year high of $12.50. The stock has a market capitalization of $412.87 million, a P/E ratio of 3.50 and a beta of 1.39.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its earnings results on Friday, March 14th. The basic materials company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $33.52 million for the quarter, compared to the consensus estimate of $32.20 million. McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. As a group, research analysts expect that McEwen Mining Inc will post -0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Roth Mkm decreased their target price on McEwen Mining from $13.00 to $12.50 and set a “buy” rating on the stock in a report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of McEwen Mining in a report on Wednesday. Finally, StockNews.com cut McEwen Mining from a “hold” rating to a “sell” rating in a report on Wednesday, February 19th.

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.