McEwen Mining Inc. (NYSE:MUX) shares traded down 3.3% during trading on Monday after an insider sold shares in the company. The stock traded as low as $3.54 and last traded at $3.55, with a volume of 1,557,715 shares trading hands. The stock had previously closed at $3.67.

Specifically, Director Michele L. Ashby sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $3.45, for a total value of $34,500.00. Following the sale, the director now directly owns 42,500 shares of the company’s stock, valued at approximately $146,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.60% of the stock is currently owned by insiders.

Separately, Zacks Investment Research downgraded shares of McEwen Mining from a “buy” rating to a “hold” rating in a research note on Thursday, July 7th.

The firm has a market cap of $1.07 billion, a PE ratio of 119.67 and a beta of 0.20. The firm has a 50 day moving average of $3.92 and a 200 day moving average of $3.29.

Several large investors have recently added to or reduced their stakes in MUX. JPMorgan Chase & Co. boosted its stake in McEwen Mining by 15.1% in the first quarter. JPMorgan Chase & Co. now owns 3,245,258 shares of the company’s stock valued at $6,101,000 after buying an additional 425,111 shares in the last quarter. Renaissance Technologies LLC boosted its stake in McEwen Mining by 332.3% in the first quarter. Renaissance Technologies LLC now owns 1,338,909 shares of the company’s stock valued at $2,517,000 after buying an additional 1,029,209 shares in the last quarter. UBS Group AG boosted its stake in McEwen Mining by 628.2% in the first quarter. UBS Group AG now owns 628,806 shares of the company’s stock valued at $1,182,000 after buying an additional 542,456 shares in the last quarter. Geode Capital Management LLC boosted its stake in McEwen Mining by 12.2% in the first quarter. Geode Capital Management LLC now owns 1,255,309 shares of the company’s stock valued at $2,359,000 after buying an additional 136,964 shares in the last quarter. Finally, BlackRock Group LTD boosted its stake in McEwen Mining by 48.1% in the first quarter. BlackRock Group LTD now owns 447,527 shares of the company’s stock valued at $842,000 after buying an additional 145,297 shares in the last quarter. 26.04% of the stock is currently owned by institutional investors.

About McEwen Mining

McEwen Mining Inc is a mining and minerals exploration company. The Company is focused on precious and base metals in Argentina, Mexico and the United States. Its segments include Mexico, Argentina and the United States. It classifies its mineral properties into Production Properties, Advanced-Stage Properties and Exploration Properties.

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