BlackRock Inc. lessened its position in shares of McEwen Mining Inc (NYSE:MUX) (TSE:MUX) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,770,143 shares of the basic materials company’s stock after selling 185,877 shares during the period. BlackRock Inc. owned 2.90% of McEwen Mining worth $17,780,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Morgan Stanley increased its stake in McEwen Mining by 42.2% in the third quarter. Morgan Stanley now owns 3,408,912 shares of the basic materials company’s stock valued at $6,614,000 after purchasing an additional 1,011,428 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of McEwen Mining by 20.8% during the fourth quarter. Alps Advisors Inc. now owns 1,357,467 shares of the basic materials company’s stock valued at $2,471,000 after buying an additional 233,963 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of McEwen Mining by 147.1% during the fourth quarter. Toronto Dominion Bank now owns 64,000 shares of the basic materials company’s stock valued at $117,000 after buying an additional 38,102 shares during the last quarter. Perritt Capital Management Inc. grew its holdings in shares of McEwen Mining by 666.7% during the fourth quarter. Perritt Capital Management Inc. now owns 230,000 shares of the basic materials company’s stock valued at $419,000 after buying an additional 200,000 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of McEwen Mining by 1.1% during the third quarter. Vanguard Group Inc. now owns 4,651,569 shares of the basic materials company’s stock valued at $9,024,000 after buying an additional 52,559 shares during the last quarter. 27.13% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald upgraded shares of McEwen Mining from a “hold” rating to a “buy” rating in a report on Tuesday, April 2nd. HC Wainwright set a $4.00 price objective on shares of McEwen Mining and gave the company a “buy” rating in a report on Wednesday, January 16th. Zacks Investment Research cut shares of McEwen Mining from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th. Finally, ValuEngine upgraded shares of McEwen Mining from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $4.00.

Shares of NYSE MUX opened at $1.42 on Tuesday. The stock has a market cap of $493.19 million, a PE ratio of -10.92 and a beta of -0.72. McEwen Mining Inc has a 1 year low of $1.35 and a 1 year high of $2.52. The company has a quick ratio of 1.04, a current ratio of 1.65 and a debt-to-equity ratio of 0.11.

McEwen Mining (NYSE:MUX) (TSE:MUX) last issued its quarterly earnings data on Thursday, February 21st. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). McEwen Mining had a negative net margin of 35.32% and a negative return on equity of 8.53%. The business had revenue of $26.46 million for the quarter, compared to analyst estimates of $18.03 million. As a group, research analysts anticipate that McEwen Mining Inc will post -0.04 EPS for the current fiscal year.

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About McEwen Mining

McEwen Mining, Inc is a mining and minerals production and exploration company, which focuses on base metals in Argentina, Mexico and the United States. It operates through the following geographical segments: Mexico, MSC, Nevada, Los Azules, Canada and Other. The company was founded on July 24, 1979 and is headquartered in Toronto, Canada.

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

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