First Manhattan Co. Has $242,000 Position in McEwen Mining Inc (MUX)
First Manhattan Co. held its stake in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 66,000 shares of the basic materials company’s stock at the end of the first quarter. First Manhattan Co.’s holdings in McEwen Mining were worth $242,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. FMR LLC boosted its position in McEwen Mining by 62.1% in the fourth quarter. FMR LLC now owns 939,010 shares of the basic materials company’s stock worth $2,733,000 after buying an additional 359,900 shares in the last quarter. State Street Corp boosted its stake in McEwen Mining by 31.0% in the fourth quarter. State Street Corp now owns 10,798,399 shares of the basic materials company’s stock valued at $31,423,000 after buying an additional 2,553,415 shares during the period. Highbridge Capital Management LLC bought a new stake in shares of McEwen Mining during the fourth quarter valued at approximately $106,000. Renaissance Technologies LLC bought a new stake in shares of McEwen Mining during the fourth quarter valued at approximately $542,000. Finally, Tudor Investment Corp Et Al bought a new stake in shares of McEwen Mining during the fourth quarter valued at approximately $104,000. 33.73% of the stock is owned by institutional investors.
Shares of McEwen Mining Inc (NYSE:MUX) traded down 0.853% during midday trading on Friday, reaching $2.905. The company had a trading volume of 730,814 shares. McEwen Mining Inc has a one year low of $2.09 and a one year high of $4.92. The company has a 50-day moving average price of $2.99 and a 200 day moving average price of $3.27. The company has a market capitalization of $905.99 million, a P/E ratio of 170.882 and a beta of -0.41.
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MUX has been the topic of several recent analyst reports. Zacks Investment Research raised McEwen Mining from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a research note on Saturday, April 22nd. TheStreet lowered McEwen Mining from a “c” rating to a “d+” rating in a research report on Monday, May 8th.
About McEwen Mining
McEwen Mining Inc is a mining and minerals production and exploration company. The Company is focused on precious and base metals in Argentina, Mexico and the United States. The Company’s segments include Mexico, Minera Santa Cruz SA (MSC), Nevada and Los Azules. The Mexico Operations segment includes properties, such as El Gallo 1 mine and the El Gallo 2 project.
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