IPG Investment Advisors LLC Invests $137,000 in McEwen Mining Inc (MUX)
IPG Investment Advisors LLC bought a new stake in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 60,000 shares of the basic materials company’s stock, valued at approximately $137,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in MUX. Schwab Charles Investment Management Inc. raised its holdings in shares of McEwen Mining by 1.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 583,162 shares of the basic materials company’s stock worth $1,534,000 after acquiring an additional 10,123 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of McEwen Mining by 6.9% during the second quarter. Principal Financial Group Inc. now owns 105,264 shares of the basic materials company’s stock worth $277,000 after acquiring an additional 6,823 shares in the last quarter. Swiss National Bank raised its holdings in shares of McEwen Mining by 8.3% during the second quarter. Swiss National Bank now owns 397,531 shares of the basic materials company’s stock worth $1,046,000 after acquiring an additional 30,600 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of McEwen Mining by 0.9% during the second quarter. Profund Advisors LLC now owns 39,122 shares of the basic materials company’s stock worth $103,000 after acquiring an additional 366 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of McEwen Mining by 6.0% during the second quarter. Northern Trust Corp now owns 948,986 shares of the basic materials company’s stock worth $2,496,000 after acquiring an additional 54,093 shares in the last quarter. Institutional investors own 28.04% of the company’s stock.
In related news, insider Xavier Ochoa bought 12,600 shares of the business’s stock in a transaction on Tuesday, December 26th. The shares were bought at an average cost of $2.36 per share, for a total transaction of $29,736.00. Following the completion of the acquisition, the insider now directly owns 12,600 shares in the company, valued at $29,736. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have acquired 16,200 shares of company stock worth $37,800. Corporate insiders own 26.10% of the company’s stock.
The business also recently announced a special dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Friday, February 2nd will be issued a dividend of $0.005 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a yield of 0.00211864406779661%. McEwen Mining’s dividend payout ratio (DPR) is currently -16.67%.
Several analysts recently issued reports on MUX shares. Zacks Investment Research lowered McEwen Mining from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th. Roth Capital started coverage on McEwen Mining in a report on Monday, December 11th. They set a “buy” rating and a $3.25 price objective for the company. Cantor Fitzgerald started coverage on McEwen Mining in a report on Thursday, October 26th. They set a “buy” rating for the company. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of McEwen Mining in a report on Tuesday, January 16th. Finally, ValuEngine upgraded McEwen Mining from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. McEwen Mining has an average rating of “Hold” and a consensus price target of $4.00.
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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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