100,000 Shares in McEwen Inc. $MUX Acquired by U S Global Investors Inc.

U S Global Investors Inc. bought a new stake in McEwen Inc. (NYSE:MUX) (TSE:MUX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 100,000 shares of the basic materials company’s stock, valued at approximately $1,857,000.

Other hedge funds have also made changes to their positions in the company. Royal Bank of Canada raised its stake in shares of McEwen by 4,309.4% during the 1st quarter. Royal Bank of Canada now owns 638,871 shares of the basic materials company’s stock worth $4,823,000 after buying an additional 624,382 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in McEwen by 44.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 63,768 shares of the basic materials company’s stock valued at $481,000 after acquiring an additional 19,548 shares during the last quarter. Empowered Funds LLC grew its stake in McEwen by 105.4% in the 1st quarter. Empowered Funds LLC now owns 208,100 shares of the basic materials company’s stock valued at $1,571,000 after acquiring an additional 106,800 shares during the last quarter. Geode Capital Management LLC increased its holdings in McEwen by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 509,426 shares of the basic materials company’s stock valued at $4,897,000 after acquiring an additional 1,585 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in McEwen by 92.5% during the second quarter. JPMorgan Chase & Co. now owns 198,771 shares of the basic materials company’s stock worth $1,910,000 after acquiring an additional 95,488 shares during the last quarter. Hedge funds and other institutional investors own 17.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. HC Wainwright upped their price target on shares of McEwen from $21.50 to $29.50 and gave the company a “buy” rating in a report on Wednesday, March 18th. Zacks Research cut shares of McEwen from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 15th. Roth Mkm upped their target price on 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 cut McEwen from a “buy” rating to a “hold” rating in a report on Sunday, March 29th. Finally, Weiss Ratings upgraded shares of McEwen from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, March 11th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.83.

McEwen Stock Down 3.1%

Shares of NYSE:MUX opened at $23.94 on Friday. McEwen Inc. has a 1 year low of $6.88 and a 1 year high of $29.70. The stock has a 50-day simple moving average of $23.48 and a 200-day simple moving average of $21.46. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.27 and a current ratio of 1.69. The stock has a market capitalization of $1.42 billion, a P/E ratio of 40.58 and a beta of 1.28.

McEwen (NYSE:MUX) (TSE:MUX) last released its quarterly earnings data on Thursday, March 12th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.41. The company had revenue of $64.60 million during the quarter, compared to the consensus estimate of $72.83 million. McEwen had a net margin of 17.43% and a return on equity of 6.89%. Equities analysts forecast that McEwen Inc. will post 0.86 earnings per share for the current year.

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.