JPMorgan Chase & Co. Has $11.27 Million Stock Position in McEwen Inc. $MUX

JPMorgan Chase & Co. boosted its position in McEwen Inc. (NYSE:MUX) (TSE:MUX) by 231.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 659,079 shares of the basic materials company’s stock after buying an additional 460,308 shares during the quarter. JPMorgan Chase & Co.’s holdings in McEwen were worth $11,270,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Catalyst Funds Management Pty Ltd bought a new stake in McEwen during the second quarter valued at about $338,000. North of South Capital LLP acquired a new position in shares of McEwen during the 3rd quarter worth about $855,000. Entropy Technologies LP bought a new stake in McEwen during the 2nd quarter valued at approximately $161,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in McEwen in the 3rd quarter valued at approximately $598,000. Finally, Walleye Capital LLC bought a new position in McEwen in the 2nd quarter worth approximately $1,208,000. Institutional investors own 17.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of McEwen in a research report on Monday, December 29th. Roth Mkm reiterated a “buy” rating and set a $30.00 target price (up from $23.00) on shares of McEwen in a research note on Friday, January 30th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, McEwen currently has an average rating of “Moderate Buy” and an average price target of $25.50.

McEwen Price Performance

Shares of MUX stock opened at $24.16 on Friday. McEwen Inc. has a 12 month low of $6.38 and a 12 month high of $29.70. The company has a market capitalization of $1.32 billion, a P/E ratio of -109.82 and a beta of 1.11. The stock has a 50 day moving average of $24.14 and a two-hundred day moving average of $19.30. The company has a current ratio of 2.10, a quick ratio of 1.58 and a debt-to-equity ratio of 0.26.

McEwen Company Profile

McEwen Mining Inc (NYSE: MUX) is a Canada-based precious metals company focused on the exploration, development and production of gold, silver and copper. Headquartered in Toronto, the company pursues a diversified portfolio of assets across the Americas, with operations and projects spanning Argentina, Mexico, Canada and the United States. McEwen Mining employs an integrated approach that combines in-house technical expertise with strategic partnerships to advance its assets from resource definition through to commercial production.

The company’s flagship producing asset is the San José mine in Argentina, a high-grade silver-gold operation.