Van ECK Associates Corp Has $14.64 Million Holdings in McEwen Mining Inc (NYSE:MUX)

Van ECK Associates Corp grew its stake in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,030,048 shares of the basic materials company’s stock after buying an additional 56,698 shares during the period. Van ECK Associates Corp’s holdings in McEwen Mining were worth $14,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its position in McEwen Mining by 5.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 59,342 shares of the basic materials company’s stock worth $386,000 after buying an additional 3,245 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in McEwen Mining by 2.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,041,114 shares of the basic materials company’s stock worth $6,767,000 after purchasing an additional 20,549 shares during the last quarter. Private Advisor Group LLC acquired a new position in McEwen Mining during the 3rd quarter worth $75,000. Rathbones Group PLC bought a new position in McEwen Mining in the 3rd quarter valued at $74,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of McEwen Mining by 175.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 75,611 shares of the basic materials company’s stock valued at $486,000 after buying an additional 48,192 shares during the period. 17.03% of the stock is currently owned by institutional investors and hedge funds.

McEwen Mining Trading Up 0.8 %

NYSE:MUX opened at $11.55 on Thursday. The company has a current ratio of 1.76, a quick ratio of 1.09 and a debt-to-equity ratio of 0.08. McEwen Mining Inc has a 1-year low of $5.92 and a 1-year high of $12.50. The firm has a market capitalization of $571.03 million, a price-to-earnings ratio of 10.13 and a beta of 1.48. The business’s 50-day moving average price is $9.42 and its two-hundred day moving average price is $7.91.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings results on Thursday, February 29th. The basic materials company reported $2.90 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $3.22. McEwen Mining had a net margin of 32.92% and a return on equity of 19.20%. The business had revenue of $58.68 million for the quarter, compared to the consensus estimate of $53.00 million. On average, equities analysts expect that McEwen Mining Inc will post -0.3 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. TheStreet upgraded McEwen Mining from a “d” rating to a “c” rating in a research report on Friday, March 1st. HC Wainwright dropped their price target on shares of McEwen Mining from $18.50 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 4th.

McEwen Mining Company Profile

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.