GSA Capital Partners LLP Lowers Position in McEwen Inc. $MUX

GSA Capital Partners LLP cut its position in shares of McEwen Inc. (NYSE:MUX) (TSE:MUX) by 59.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 82,502 shares of the basic materials company’s stock after selling 118,480 shares during the quarter. GSA Capital Partners LLP owned about 0.15% of McEwen worth $1,411,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MUX. CoreCap Advisors LLC bought a new stake in shares of McEwen during the 3rd quarter valued at $27,000. Tower Research Capital LLC TRC boosted its stake in McEwen by 17,204.9% during the second quarter. Tower Research Capital LLC TRC now owns 10,556 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 10,495 shares in the last quarter. Pale Fire Capital SE bought a new stake in McEwen during the second quarter worth about $119,000. XTX Topco Ltd purchased a new stake in McEwen in the second quarter worth about $141,000. Finally, PharVision Advisers LLC bought a new position in shares of McEwen during the second quarter valued at approximately $154,000. Institutional investors own 17.03% of the company’s stock.

McEwen Stock Down 6.4%

MUX stock opened at $24.06 on Wednesday. The stock has a market capitalization of $1.31 billion, a P/E ratio of -109.36 and a beta of 1.13. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.10 and a quick ratio of 1.58. McEwen Inc. has a 1-year low of $6.38 and a 1-year high of $29.70. The business has a fifty day moving average price of $22.42 and a 200-day moving average price of $18.08.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Roth Mkm reissued a “buy” rating and issued a $30.00 price target (up from $23.00) on shares of McEwen in a research report on Friday, January 30th. Weiss Ratings restated a “sell (d+)” rating on shares of McEwen in a report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, McEwen currently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

McEwen 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.