Sprott Inc. Invests $100,000 in McEwen Mining Inc (NYSE:MUX)

Sprott Inc. acquired a new stake in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 12,859 shares of the basic materials company’s stock, valued at approximately $100,000.

A number of other institutional investors also recently modified their holdings of MUX. Quarry LP bought a new stake in McEwen Mining during the 3rd quarter worth about $51,000. Private Advisor Group LLC acquired a new stake in McEwen Mining during the third quarter worth approximately $99,000. PDT Partners LLC bought a new stake in McEwen Mining in the 3rd quarter valued at $101,000. Virtu Financial LLC boosted its position in shares of 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 acquiring an additional 4,046 shares during the period. Finally, Quest Partners LLC bought a new stake in McEwen Mining in the 3rd quarter valued at about $166,000. 17.03% of the stock is currently owned by institutional investors.

McEwen Mining Stock Performance

NYSE:MUX opened at $7.21 on Thursday. The company has a 50 day simple moving average of $7.98 and a two-hundred day simple moving average of $8.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17. McEwen Mining Inc has a fifty-two week low of $5.92 and a fifty-two week high of $12.50. The company has a market capitalization of $381.59 million, a PE ratio of 3.29 and a beta of 1.42.

Analyst Ratings Changes

A number of analysts have recently weighed in on MUX shares. Roth Mkm cut their target price on McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a research report on Thursday, November 7th. HC Wainwright cut their target price on shares of McEwen Mining from $19.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Finally, StockNews.com lowered McEwen Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, February 19th.

McEwen Mining 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.