Zacks Investment Research upgraded shares of McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.
According to Zacks, “U.S. GOLD CORP. is primarily engaged in the precious metal mining business in the continental United States, however, it may also evaluate properties outside the United States. “
MUX has been the topic of several other reports. BidaskClub downgraded shares of McEwen Mining from a sell rating to a strong sell rating in a report on Thursday, July 6th. TheStreet raised shares of McEwen Mining from a d+ rating to a c rating in a report on Friday, June 16th. ValuEngine downgraded shares of McEwen Mining from a hold rating to a sell rating in a report on Tuesday, June 13th. Finally, HC Wainwright reissued a buy rating and issued a $5.00 price target on shares of McEwen Mining in a report on Tuesday, July 18th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. McEwen Mining currently has a consensus rating of Hold and an average price target of $4.25.
McEwen Mining (MUX) opened at 2.51 on Tuesday. The company’s market capitalization is $782.25 million. The firm has a 50-day moving average of $2.48 and a 200 day moving average of $2.78. McEwen Mining has a 12-month low of $2.15 and a 12-month high of $4.43.
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The company also recently declared a special dividend, which was paid on Thursday, August 17th. Stockholders of record on Friday, August 4th were issued a $0.005 dividend. The ex-dividend date of this dividend was Wednesday, August 2nd. McEwen Mining’s payout ratio is -50.00%.
Institutional investors have recently made changes to their positions in the company. Suntrust Banks Inc. lifted its holdings in shares of McEwen Mining by 2.7% in the first quarter. Suntrust Banks Inc. now owns 35,564 shares of the basic materials company’s stock worth $108,000 after buying an additional 946 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of McEwen Mining in the first quarter worth about $110,000. D L Carlson Investment Group Inc. lifted its holdings in shares of McEwen Mining by 107.8% in the second quarter. D L Carlson Investment Group Inc. now owns 38,588 shares of the basic materials company’s stock worth $101,000 after buying an additional 20,018 shares in the last quarter. Profund Advisors LLC lifted its holdings in shares of McEwen Mining by 0.9% in the second quarter. Profund Advisors LLC now owns 39,122 shares of the basic materials company’s stock worth $103,000 after buying an additional 366 shares in the last quarter. Finally, Level Four Advisory Services LLC lifted its holdings in shares of McEwen Mining by 0.3% in the first quarter. Level Four Advisory Services LLC now owns 39,260 shares of the basic materials company’s stock worth $126,000 after buying an additional 100 shares in the last quarter. 29.31% of the stock is currently owned by hedge funds and other institutional investors.
McEwen Mining Company Profile
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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