Karp Capital Management Corp bought a new position in McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 36,337 shares of the basic materials company’s stock, valued at approximately $110,000.

Other institutional investors have also modified their holdings of the company. Staley Capital Advisers Inc. boosted its position in McEwen Mining by 20.6% in the first quarter. Staley Capital Advisers Inc. now owns 4,475,440 shares of the basic materials company’s stock worth $13,605,000 after buying an additional 765,000 shares during the last quarter. Suntrust Banks Inc. raised its stake in shares of McEwen Mining by 2.7% in the first quarter. Suntrust Banks Inc. now owns 35,564 shares of the basic materials company’s stock worth $108,000 after buying an additional 946 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of McEwen Mining by 49.2% in the first quarter. Bank of New York Mellon Corp now owns 254,018 shares of the basic materials company’s stock worth $772,000 after buying an additional 83,797 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of McEwen Mining during the first quarter worth $1,006,000. Finally, David R. Rahn & Associates Inc. raised its stake in shares of McEwen Mining by 968.7% in the first quarter. David R. Rahn & Associates Inc. now owns 195,585 shares of the basic materials company’s stock worth $595,000 after buying an additional 177,283 shares during the last quarter. Institutional investors own 31.82% of the company’s stock.

McEwen Mining Inc. (MUX) traded down 6.30% during trading on Monday, hitting $2.23. 3,355,010 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $2.61 and its 200 day moving average price is $3.10. The firm’s market cap is $696.38 million. McEwen Mining Inc. has a 12-month low of $2.20 and a 12-month high of $4.81.

The business also recently declared a dividend, which will be paid on Thursday, August 17th. Investors of record on Friday, August 4th will be issued a dividend of $0.005 per share. The ex-dividend date of this dividend is Wednesday, August 2nd. McEwen Mining’s dividend payout ratio is presently -50.00%.

ILLEGAL ACTIVITY WARNING: “Karp Capital Management Corp Purchases New Position in McEwen Mining Inc. (NYSE:MUX)” was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this story can be read at https://www.thecerbatgem.com/2017/08/07/36337-shares-in-mcewen-mining-inc-nysemux-acquired-by-karp-capital-management-corp-updated-updated-updated.html.

Several equities research analysts recently commented on the stock. ValuEngine lowered shares of McEwen Mining from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. TheStreet lowered shares of McEwen Mining from a “c” rating to a “d+” rating in a research note on Monday, May 8th. Zacks Investment Research cut shares of McEwen Mining from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. BidaskClub cut shares of McEwen Mining from a “sell” rating to a “strong sell” rating in a report on Thursday, July 6th. Finally, HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of McEwen Mining in a report on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $4.25.

McEwen Mining Company Profile

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.

Institutional Ownership by Quarter for McEwen Mining (NYSE:MUX)

Receive News & Stock Ratings for McEwen Mining Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McEwen Mining Inc. and related stocks with our FREE daily email newsletter.