U S Global Investors Inc. Invests $2.56 Million in McEwen Mining Inc (NYSE:MUX)

U S Global Investors Inc. acquired a new position in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 328,612 shares of the basic materials company’s stock, valued at approximately $2,557,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Private Advisor Group LLC acquired a new stake in McEwen Mining during the third quarter worth $99,000. Van ECK Associates Corp increased its stake in McEwen Mining by 2.1% in the third quarter. Van ECK Associates Corp now owns 2,163,930 shares of the basic materials company’s stock valued at $20,125,000 after acquiring an additional 45,410 shares during the period. GSA Capital Partners LLP bought a new stake in McEwen Mining in the third quarter valued at about $457,000. Quest Partners LLC acquired a new position in McEwen Mining in the third quarter worth about $166,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in McEwen Mining by 66.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 393,719 shares of the basic materials company’s stock worth $3,659,000 after purchasing an additional 157,300 shares during the period. Institutional investors own 17.03% of the company’s stock.

McEwen Mining Stock Performance

MUX stock opened at $6.91 on Friday. The stock has a market capitalization of $365.45 million, a PE ratio of 3.15 and a beta of 1.42. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. The company has a 50 day moving average price of $7.96 and a 200 day moving average price of $8.74. McEwen Mining Inc has a fifty-two week low of $5.92 and a fifty-two week high of $12.50.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. HC Wainwright dropped their target price on McEwen Mining from $19.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Roth Mkm cut their price objective on McEwen Mining from $12.75 to $12.25 and set a “buy” rating for the company in a report on Thursday, November 7th. Finally, StockNews.com downgraded shares of McEwen Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, February 19th.

McEwen Mining Company Profile

McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.