Fox Run Management L.L.C. Invests $248,000 in McEwen Mining Inc (NYSE:MUX)

Fox Run Management L.L.C. bought a new stake in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 31,857 shares of the basic materials company’s stock, valued at approximately $248,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MUX. Quarry LP bought a new stake in McEwen Mining in the third quarter valued at approximately $51,000. Private Advisor Group LLC raised its stake in 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 acquiring an additional 2,000 shares during the period. Sprott Inc. acquired a new stake in McEwen Mining during the 4th quarter valued at $100,000. PDT Partners LLC bought a new position in McEwen Mining during the third quarter worth $101,000. Finally, Virtu Financial LLC increased its holdings 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 purchasing an additional 4,046 shares during the last quarter. Institutional investors own 17.03% of the company’s stock.

Analyst Upgrades and Downgrades

MUX has been the subject of a number of research reports. Roth Mkm cut their target price on shares of McEwen Mining from $13.00 to $12.50 and set a “buy” rating for the company in a research note on Friday, March 21st. HC Wainwright restated a “buy” rating and set a $18.00 price objective on shares of McEwen Mining in a research report on Wednesday, March 19th. Finally, StockNews.com downgraded McEwen Mining from a “hold” rating to a “sell” rating in a research report on Wednesday, February 19th.

McEwen Mining Price Performance

NYSE:MUX opened at $8.03 on Friday. McEwen Mining Inc has a 52 week low of $6.46 and a 52 week 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 firm’s 50-day simple moving average is $7.72 and its 200 day simple moving average is $8.52. The firm has a market cap of $433.26 million, a price-to-earnings ratio of 3.67 and a beta of 1.39.

McEwen Mining (NYSE:MUX) (TSE:MUX) last announced its earnings results on Friday, March 14th. The basic materials company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. The business had revenue of $33.52 million for the quarter, compared to the consensus estimate of $32.20 million. As a group, sell-side analysts predict that McEwen Mining Inc will post -0.72 earnings per share for the current 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.