Insider Selling: McEwen (NYSE:MUX) Director Sells $59,375.75 in Stock

McEwen Inc. (NYSE:MUX) (TSE:MUX) Director Richard Brissenden sold 3,275 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $18.13, for a total transaction of $59,375.75. Following the sale, the director owned 18,022 shares of the company’s stock, valued at approximately $326,738.86. This represents a 15.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

McEwen Stock Down 1.1%

McEwen stock traded down $0.20 during trading hours on Wednesday, hitting $17.93. The company had a trading volume of 1,018,759 shares, compared to its average volume of 1,238,505. The firm has a market capitalization of $1.07 billion, a P/E ratio of 15.19 and a beta of 1.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.14 and a quick ratio of 0.81. The firm’s fifty day moving average is $21.22 and its 200-day moving average is $22.28. McEwen Inc. has a fifty-two week low of $9.82 and a fifty-two week high of $29.70.

Institutional Investors Weigh In On McEwen

Institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV acquired a new position in McEwen during the first quarter worth $27,000. Leonteq Securities AG acquired a new stake in shares of McEwen in the first quarter worth about $31,000. Parkside Financial Bank & Trust bought a new stake in shares of McEwen during the 4th quarter worth about $37,000. Banque Cantonale Vaudoise bought a new stake in shares of McEwen during the 4th quarter worth about $40,000. Finally, National Bank of Canada FI increased its holdings in shares of McEwen by 3,328.3% during the 3rd quarter. National Bank of Canada FI now owns 3,634 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 3,528 shares during the last quarter. Institutional investors and hedge funds own 17.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MUX shares. Weiss Ratings lowered McEwen from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, June 2nd. Zacks Research upgraded McEwen from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. HC Wainwright upped their target price on McEwen from $21.50 to $29.50 and gave the stock a “buy” rating in a research report on Wednesday, March 18th. Roth Mkm raised their price target on McEwen from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, March 18th. Finally, Wall Street Zen lowered McEwen from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, McEwen presently has an average rating of “Moderate Buy” and an average target price of $29.83.

About McEwen

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.