50,000 Shares in McEwen Inc. $MUX Bought by North of South Capital LLP

North of South Capital LLP purchased a new stake in McEwen Inc. (NYSE:MUX) (TSE:MUX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,000 shares of the basic materials company’s stock, valued at approximately $855,000. McEwen comprises approximately 0.1% of North of South Capital LLP’s investment portfolio, making the stock its 21st biggest position. North of South Capital LLP owned 0.09% of McEwen at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MUX. Y Intercept Hong Kong Ltd purchased a new position in McEwen during the second quarter valued at approximately $947,000. Catalyst Funds Management Pty Ltd acquired a new position in shares of McEwen in the 2nd quarter valued at $338,000. Goldman Sachs Group Inc. boosted its holdings in McEwen by 44.2% during the first quarter. Goldman Sachs Group Inc. now owns 63,768 shares of the basic materials company’s stock worth $481,000 after buying an additional 19,548 shares in the last quarter. Entropy Technologies LP purchased a new stake in McEwen during the second quarter worth $161,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in McEwen during the second quarter valued at $983,000. Institutional investors and hedge funds own 17.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MUX. Roth Capital restated a “buy” rating and set a $23.00 target price (up from $21.00) on shares of McEwen in a research report on Wednesday, December 17th. HC Wainwright upped their target price on McEwen from $17.00 to $21.50 and gave the stock a “buy” rating in a research note on Friday, October 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of McEwen in a research report on Monday, December 29th. Finally, Canaccord Genuity Group set a $25.00 price objective on shares of McEwen and gave the stock a “buy” rating in a research report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

McEwen Price Performance

McEwen stock opened at $21.81 on Tuesday. The company has a fifty day simple moving average of $18.51 and a 200-day simple moving average of $15.47. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -99.15 and a beta of 1.08. The company has a quick ratio of 1.58, a current ratio of 2.10 and a debt-to-equity ratio of 0.26. McEwen Inc. has a 52-week low of $6.38 and a 52-week high of $24.88.

McEwen (NYSE:MUX) (TSE:MUX) last posted its quarterly earnings results on Wednesday, November 5th. The basic materials company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.32). McEwen had a negative return on equity of 2.45% and a negative net margin of 7.16%.The business had revenue of $50.53 million for the quarter, compared to analyst estimates of $60.00 million. On average, equities analysts anticipate that McEwen Inc. will post -0.72 EPS for the current fiscal year.

McEwen Company Profile

McEwen Mining Inc (NYSE: MUX) is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company’s flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.