U S Global Investors Inc. Purchases New Shares in McEwen Mining Inc (NYSE:MUX)

U S Global Investors Inc. acquired a new position in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 328,612 shares of the basic materials company’s stock, valued at approximately $2,557,000. U S Global Investors Inc. owned approximately 0.62% of McEwen Mining at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MUX. Quarry LP acquired a new stake in McEwen Mining in the third quarter valued at $51,000. Private Advisor Group LLC grew its stake in McEwen Mining by 18.8% in the fourth quarter. Private Advisor Group LLC now owns 12,645 shares of the basic materials company’s stock worth $98,000 after purchasing an additional 2,000 shares in the last quarter. Sprott Inc. bought a new stake in McEwen Mining in the fourth quarter valued at about $100,000. PDT Partners LLC acquired a new stake in McEwen Mining during the third quarter valued at approximately $101,000. Finally, Virtu Financial LLC lifted its holdings in McEwen Mining by 32.3% during the 3rd quarter. Virtu Financial LLC now owns 16,555 shares of the basic materials company’s stock worth $154,000 after buying an additional 4,046 shares during the last quarter. 17.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. HC Wainwright cut their price target on McEwen Mining from $19.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. StockNews.com cut McEwen Mining from a “hold” rating to a “sell” rating in a report on Wednesday, February 19th. Finally, Roth Mkm reduced their price objective on McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research note on Thursday, November 7th.

McEwen Mining Stock Down 4.2 %

MUX opened at $6.91 on Friday. McEwen Mining Inc has a twelve month low of $5.92 and a twelve month high of $12.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17. The business has a 50 day moving average price of $7.96 and a 200 day moving average price of $8.74. The firm has a market cap of $365.45 million, a P/E ratio of 3.15 and a beta of 1.42.

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.