McEwen Mining Inc. (MUX) Position Boosted by Credit Suisse AG
Credit Suisse AG increased its stake in shares of McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) by 43.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 204,374 shares of the basic materials company’s stock after buying an additional 62,039 shares during the period. Credit Suisse AG owned approximately 0.07% of McEwen Mining worth $621,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Suntrust Banks Inc. boosted its stake in McEwen Mining by 2.7% in the first quarter. Suntrust Banks Inc. now owns 35,564 shares of the basic materials company’s stock valued at $108,000 after buying an additional 946 shares in the last quarter. Karp Capital Management Corp bought a new stake in McEwen Mining during the first quarter valued at about $110,000. Smith Affiliated Capital Corp. boosted its stake in McEwen Mining by 35.6% in the first quarter. Smith Affiliated Capital Corp. now owns 40,000 shares of the basic materials company’s stock valued at $122,000 after buying an additional 10,500 shares in the last quarter. Two Sigma Securities LLC bought a new stake in McEwen Mining during the first quarter valued at about $125,000. Finally, Level Four Advisory Services LLC boosted its stake in McEwen Mining by 0.3% in the first quarter. Level Four Advisory Services LLC now owns 39,260 shares of the basic materials company’s stock valued at $126,000 after buying an additional 100 shares in the last quarter. 29.31% of the stock is currently owned by hedge funds and other institutional investors.
McEwen Mining Inc. (MUX) traded down 0.39% during mid-day trading on Tuesday, reaching $2.56. 2,366,483 shares of the company traded hands. McEwen Mining Inc. has a 52-week low of $2.15 and a 52-week high of $4.43. The stock has a 50 day moving average price of $2.47 and a 200-day moving average price of $2.91. The company’s market capitalization is $799.43 million.
The business also recently announced a special dividend, which was paid on Thursday, August 17th. Stockholders of record on Friday, August 4th were issued a dividend of $0.005 per share. The ex-dividend date was Wednesday, August 2nd. McEwen Mining’s dividend payout ratio (DPR) is currently -50.00%.
MUX has been the topic of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of McEwen Mining in a report on Tuesday, July 18th. TheStreet raised shares of McEwen Mining from a “d+” rating to a “c” rating in a report on Friday, June 16th. Zacks Investment Research cut shares of McEwen Mining from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. BidaskClub raised shares of McEwen Mining from a “strong sell” rating to a “sell” rating in a report on Saturday, August 12th. Finally, ValuEngine cut shares of McEwen Mining from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Three research analysts have rated the stock with a sell rating and one has issued a buy rating to the stock. McEwen Mining currently has an average rating of “Hold” and a consensus target price of $4.25.
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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