Shares of McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) hit a new 52-week low on Tuesday . The company traded as low as $1.98 and last traded at $1.99, with a volume of 5,139,885 shares. The stock had previously closed at $2.09.

A number of brokerages have recently weighed in on MUX. Zacks Investment Research upgraded shares of McEwen Mining from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. BidaskClub raised shares of McEwen Mining from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of McEwen Mining in a research report on Tuesday, July 18th. TheStreet raised shares of McEwen Mining from a “d+” rating to a “c” rating in a research report on Friday, June 16th. Finally, ValuEngine lowered shares of McEwen Mining from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. McEwen Mining presently has an average rating of “Hold” and an average target price of $4.25.

The company’s market cap is $633.92 million. The stock has a 50-day moving average price of $2.46 and a 200 day moving average price of $2.75.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in McEwen Mining by 7.8% in the 2nd quarter. State Street Corp now owns 7,939,878 shares of the basic materials company’s stock worth $20,882,000 after buying an additional 573,477 shares during the period. Vanguard Group Inc. lifted its holdings in McEwen Mining by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,764,591 shares of the basic materials company’s stock worth $9,900,000 after buying an additional 134,315 shares during the period. Global X Management Co. LLC lifted its holdings in McEwen Mining by 2.6% in the 2nd quarter. Global X Management Co. LLC now owns 2,975,019 shares of the basic materials company’s stock worth $7,824,000 after buying an additional 74,642 shares during the period. Bank of Montreal Can lifted its holdings in McEwen Mining by 13.9% in the 2nd quarter. Bank of Montreal Can now owns 1,685,135 shares of the basic materials company’s stock worth $4,432,000 after buying an additional 206,107 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in McEwen Mining by 3.9% in the 1st quarter. Geode Capital Management LLC now owns 1,383,780 shares of the basic materials company’s stock worth $4,206,000 after buying an additional 51,689 shares during the period. Institutional investors and hedge funds own 27.71% of the company’s stock.

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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.

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