California Public Employees Retirement System decreased its position in McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 613,300 shares of the basic materials company’s stock after selling 6,700 shares during the period. California Public Employees Retirement System owned 0.20% of McEwen Mining worth $1,864,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the company. Van ECK Associates Corp boosted its position in McEwen Mining by 7.4% in the first quarter. Van ECK Associates Corp now owns 46,941,548 shares of the basic materials company’s stock valued at $142,702,000 after buying an additional 3,242,740 shares during the last quarter. Staley Capital Advisers Inc. boosted its position in McEwen Mining by 20.6% in the first quarter. Staley Capital Advisers Inc. now owns 4,475,440 shares of the basic materials company’s stock valued at $13,605,000 after buying an additional 765,000 shares during the last quarter. Sprott Inc. increased its stake in shares of McEwen Mining by 77.7% in the first quarter. Sprott Inc. now owns 1,051,165 shares of the basic materials company’s stock worth $3,196,000 after buying an additional 459,565 shares during the period. FMR LLC increased its stake in shares of McEwen Mining by 62.1% in the fourth quarter. FMR LLC now owns 939,010 shares of the basic materials company’s stock worth $2,733,000 after buying an additional 359,900 shares during the period. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of McEwen Mining during the first quarter worth about $1,006,000. 32.03% of the stock is owned by institutional investors.
Shares of McEwen Mining Inc. (NYSE:MUX) traded down 0.85% during mid-day trading on Friday, reaching $2.34. The company had a trading volume of 3,115,961 shares. The stock’s market capitalization is $730.73 million. The company’s 50-day moving average is $2.50 and its 200 day moving average is $2.97. McEwen Mining Inc. has a 52-week low of $2.15 and a 52-week high of $4.53.
The company also recently declared a special dividend, which was paid on Thursday, August 17th. Shareholders of record on Friday, August 4th were paid a $0.005 dividend. The ex-dividend date was Wednesday, August 2nd. McEwen Mining’s dividend payout ratio is currently -50.00%.
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A number of brokerages have issued reports on MUX. BidaskClub downgraded McEwen Mining from a “sell” rating to a “strong sell” rating in a report on Thursday, July 6th. Zacks Investment Research downgraded McEwen Mining from a “hold” rating to a “sell” rating in a report on Friday, July 21st. TheStreet upgraded McEwen Mining from a “d+” rating to a “c” rating in a research report on Friday, June 16th. ValuEngine cut McEwen Mining from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of McEwen Mining in a research report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating and one has assigned a buy rating to the stock. McEwen Mining currently has a consensus rating of “Hold” and an average price target of $4.25.
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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