McEwen Inc. $MUX Shares Acquired by Dimensional Fund Advisors LP

by · The Markets Daily

Dimensional Fund Advisors LP lifted its stake in McEwen Inc. (NYSE:MUX – Free Report) (TSE:MUX) by 15.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,269,760 shares of the basic materials company’s stock after purchasing an additional 172,687 shares during the quarter. Dimensional Fund Advisors LP’s holdings in McEwen were worth $25,920,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MUX. KBC Group NV acquired a new stake in shares of McEwen during the first quarter valued at approximately $27,000. Leonteq Securities AG purchased a new stake in shares of McEwen in the first quarter valued at $31,000. Parkside Financial Bank & Trust acquired a new position in McEwen during the fourth quarter valued at $37,000. Banque Cantonale Vaudoise purchased a new stake in McEwen in the 4th quarter worth about $40,000. Finally, National Bank of Canada FI boosted its position in McEwen by 3,328.3% during the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 3,528 shares during the period. 17.03% of the stock is currently owned by institutional investors and hedge funds.

McEwen Price Performance

NYSE MUX opened at $19.73 on Thursday. McEwen Inc. has a fifty-two week low of $9.82 and a fifty-two week high of $29.70. The stock’s 50-day moving average is $18.49 and its two-hundred day moving average is $21.90. The firm has a market cap of $1.18 billion, a P/E ratio of 16.72 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.14 and a quick ratio of 0.81.

McEwen (NYSE:MUX – Get Free Report) (TSE:MUX) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.14). McEwen had a net margin of 31.40% and a return on equity of 13.65%. The company had revenue of $59.23 million for the quarter, compared to analyst estimates of $65.51 million. On average, analysts anticipate that McEwen Inc. will post 1.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

MUX has been the topic of a number of research reports. Zacks Research upgraded McEwen from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings downgraded shares of McEwen from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, June 2nd. Finally, Wall Street Zen lowered shares of McEwen from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, McEwen currently has an average rating of “Moderate Buy” and an average target price of $29.83.

Check Out Our Latest Stock Report on McEwen

Insider Activity at McEwen

In related news, Director Richard W. Brissenden sold 3,275 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $18.13, for a total transaction of $59,375.75. Following the completion of the sale, the director directly owned 18,022 shares of the company’s stock, valued at approximately $326,738.86. This represents a 15.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.80% of the stock is currently owned by corporate insiders.

McEwen Profile

(Free Report)

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.

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