McEwen Mining Inc. (MUX) Raised to Sell at BidaskClub

BidaskClub upgraded shares of McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) from a strong sell rating to a sell rating in a research report released on Saturday.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of McEwen Mining from a hold rating to a buy rating and set a $3.50 price objective for the company in a report on Saturday, April 22nd. ValuEngine cut shares of McEwen Mining from a hold rating to a sell rating in a report on Tuesday, June 13th. TheStreet cut shares of McEwen Mining from a c rating to a d+ rating in a report on Monday, May 8th. Finally, HC Wainwright reiterated a buy rating and issued a $5.00 price objective on shares of McEwen Mining in a report on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating and one has issued a buy rating to the company. McEwen Mining currently has a consensus rating of Hold and an average target price of $4.25.

Shares of McEwen Mining (NYSE:MUX) opened at 2.27 on Friday. McEwen Mining has a 52-week low of $2.15 and a 52-week high of $4.81. The firm’s market capitalization is $708.87 million. The stock’s 50 day moving average is $2.53 and its 200-day moving average is $2.99.

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The business also recently disclosed a special dividend, which will be paid on Thursday, August 17th. Stockholders of record on Friday, August 4th will be issued a $0.005 dividend. The ex-dividend date is Wednesday, August 2nd. McEwen Mining’s dividend payout ratio (DPR) is presently -50.00%.

Several hedge funds and other institutional investors have recently bought and sold shares of MUX. D L Carlson Investment Group Inc. raised its stake in 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 valued at $101,000 after buying an additional 20,018 shares in the last quarter. Profund Advisors LLC raised its stake in McEwen Mining by 0.9% in the second quarter. Profund Advisors LLC now owns 39,122 shares of the basic materials company’s stock valued at $103,000 after buying an additional 366 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in McEwen Mining during the fourth quarter valued at approximately $106,000. Suntrust Banks Inc. raised its stake in McEwen Mining by 2.7% in the first quarter. Suntrust Banks Inc. now owns 35,564 shares of the basic materials company’s stock valued at $108,000 after buying an additional 946 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new stake in McEwen Mining during the first quarter valued at approximately $110,000. Institutional investors and hedge funds own 32.03% of the company’s stock.

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.