Marathon Trading Investment Management LLC Acquires New Shares in McEwen Inc. $MUX

Marathon Trading Investment Management LLC acquired a new stake in McEwen Inc. (NYSE:MUX) (TSE:MUX) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 190,300 shares of the basic materials company’s stock, valued at approximately $3,522,000. McEwen makes up 0.1% of Marathon Trading Investment Management LLC’s holdings, making the stock its 17th largest holding.

A number of other hedge funds have also bought and sold shares of MUX. Parkside Financial Bank & Trust purchased a new position in McEwen in the 4th quarter valued at approximately $37,000. Banque Cantonale Vaudoise purchased a new position in McEwen in the 4th quarter valued at approximately $40,000. National Bank of Canada FI grew its stake in McEwen by 3,328.3% in the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock valued at $62,000 after buying an additional 3,528 shares in the last quarter. Wells Fargo & Company MN grew its stake in McEwen by 330.7% in the 4th quarter. Wells Fargo & Company MN now owns 4,105 shares of the basic materials company’s stock valued at $76,000 after buying an additional 3,152 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in McEwen by 17,204.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,556 shares of the basic materials company’s stock valued at $101,000 after buying an additional 10,495 shares in the last quarter. 17.03% of the stock is currently owned by hedge funds and other institutional investors.

McEwen Stock Up 0.2%

Shares of NYSE:MUX opened at $18.95 on Monday. The firm has a fifty day moving average price of $22.27 and a two-hundred day moving average price of $22.26. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.14 and a quick ratio of 0.81. McEwen Inc. has a one year low of $8.95 and a one year high of $29.70. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 16.06 and a beta of 1.18.

McEwen (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings results on Thursday, March 12th. The basic materials company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.25 by $0.41. McEwen had a net margin of 31.40% and a return on equity of 13.65%. The firm had revenue of $64.60 million during the quarter, compared to the consensus estimate of $72.83 million. Analysts anticipate that McEwen Inc. will post 1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on MUX. Weiss Ratings lowered shares of McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Zacks Research upgraded shares of McEwen from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Roth Mkm lifted their price objective on shares of McEwen from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Wall Street Zen lowered shares of McEwen from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, HC Wainwright lifted their price objective on shares of McEwen from $21.50 to $29.50 and gave the company a “buy” rating in a research note on Wednesday, March 18th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, McEwen currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.83.

About McEwen

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.