Aquatic Capital Management LLC Boosts Stock Holdings in McEwen Mining Inc (NYSE:MUX)

Aquatic Capital Management LLC increased its position in shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 357.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,327 shares of the basic materials company’s stock after buying an additional 5,727 shares during the period. Aquatic Capital Management LLC’s holdings in McEwen Mining were worth $57,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC purchased a new stake in shares of McEwen Mining during the 4th quarter worth about $38,000. Private Advisor Group LLC increased its stake in shares of McEwen Mining by 18.8% in the 4th quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company’s stock valued at $98,000 after purchasing an additional 2,000 shares in the last quarter. Sprott Inc. acquired a new position in McEwen Mining in the 4th quarter worth about $100,000. National Bank of Canada FI boosted its position in McEwen Mining by 12,910.1% during the fourth quarter. National Bank of Canada FI now owns 14,181 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 14,072 shares in the last quarter. Finally, Virtu Financial LLC grew its holdings in McEwen Mining by 32.3% in the third quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company’s stock valued at $154,000 after purchasing an additional 4,046 shares during the period. 17.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MUX. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of McEwen Mining in a research note on Wednesday, March 19th. StockNews.com cut shares of McEwen Mining from a “hold” rating to a “sell” rating in a research report on Wednesday, February 19th. Roth Mkm dropped their target price on shares of McEwen Mining from $13.00 to $12.50 and set a “buy” rating on the stock in a research report on Friday, March 21st. Finally, National Bank Financial raised shares of McEwen Mining to a “strong-buy” rating in a research note on Tuesday, April 29th.

McEwen Mining Stock Performance

Shares of NYSE:MUX opened at $8.12 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. McEwen Mining Inc has a 1 year low of $6.38 and a 1 year high of $12.45. The firm has a market capitalization of $437.68 million, a PE ratio of 3.71 and a beta of 0.93. The business’s 50 day moving average price is $7.55 and its 200-day moving average price is $8.12.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its quarterly earnings data on Friday, March 14th. The basic materials company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). McEwen Mining had a net margin of 51.31% and a return on equity of 20.77%. The firm had revenue of $33.52 million during the quarter, compared to analysts’ expectations of $32.20 million. As a group, equities research analysts expect that McEwen Mining Inc will post -0.72 earnings per share for the current fiscal year.

About McEwen Mining

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.