McEwen (NYSE:MUX) Director Richard Brissenden Sells 3,275 Shares

McEwen Inc. (NYSE:MUX) (TSE:MUX) Director Richard Brissenden sold 3,275 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $18.13, for a total value of $59,375.75. Following the completion of the sale, the director directly owned 18,022 shares of the company’s stock, valued at $326,738.86. The trade was a 15.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

McEwen Price Performance

McEwen stock opened at $17.93 on Thursday. The stock has a market cap of $1.07 billion, a P/E ratio of 15.19 and a beta of 1.21. The company’s 50 day moving average price is $21.06 and its two-hundred day moving average price is $22.27. The company has a quick ratio of 0.81, a current ratio of 1.14 and a debt-to-equity ratio of 0.19. McEwen Inc. has a 52 week low of $9.82 and a 52 week high of $29.70.

Wall Street Analysts Forecast Growth

MUX has been the subject of a number of research reports. HC Wainwright increased their target price on shares of McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Zacks Research upgraded shares of McEwen from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Wall Street Zen lowered McEwen from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Roth Mkm lifted their target price on shares of McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Finally, Weiss Ratings lowered McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, June 2nd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, McEwen presently has an average rating of “Moderate Buy” and a consensus price target of $29.83.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MUX. Bank of America Corp DE grew its position in McEwen by 1,347.7% during the 1st quarter. Bank of America Corp DE now owns 534,824 shares of the basic materials company’s stock valued at $10,921,000 after purchasing an additional 497,882 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of McEwen by 45.7% during the 1st quarter. California State Teachers Retirement System now owns 60,857 shares of the basic materials company’s stock valued at $1,243,000 after acquiring an additional 19,077 shares during the period. Empowered Funds LLC lifted its position in shares of McEwen by 6.1% in the first quarter. Empowered Funds LLC now owns 275,384 shares of the basic materials company’s stock valued at $5,623,000 after acquiring an additional 15,886 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of McEwen in the first quarter worth about $206,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in McEwen during the first quarter worth approximately $271,000. Hedge funds and other institutional investors own 17.03% of the company’s stock.

About McEwen

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.