First Manhattan Co. held its position in shares of McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) during the second quarter, Holdings Channel reports. The firm owned 66,000 shares of the basic materials company’s stock at the end of the second quarter. First Manhattan Co.’s holdings in McEwen Mining were worth $173,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp boosted its position in shares of 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 in the last quarter. Staley Capital Advisers Inc. boosted its position in shares of 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 in the last quarter. Vanguard Group Inc. boosted its position in shares of McEwen Mining by 7.2% in the first quarter. Vanguard Group Inc. now owns 3,630,276 shares of the basic materials company’s stock valued at $11,036,000 after buying an additional 242,942 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of McEwen Mining by 20.8% in the first quarter. Global X Management Co. LLC now owns 2,900,377 shares of the basic materials company’s stock valued at $8,817,000 after buying an additional 500,366 shares in the last quarter. Finally, Arlington Capital Management Inc. boosted its position in shares of McEwen Mining by 4.9% in the first quarter. Arlington Capital Management Inc. now owns 1,932,607 shares of the basic materials company’s stock valued at $5,875,000 after buying an additional 89,454 shares in the last quarter. Institutional investors and hedge funds own 31.82% of the company’s stock.

McEwen Mining Inc. (NYSE MUX) opened at 2.39 on Friday. McEwen Mining Inc. has a 1-year low of $2.15 and a 1-year high of $4.81. The company’s 50 day moving average is $2.55 and its 200-day moving average is $3.03. The stock’s market cap is $746.34 million.

The company also recently declared a special dividend, which will be paid on Thursday, August 17th. Investors of record on Friday, August 4th will be given a dividend of $0.005 per share. The ex-dividend date is Wednesday, August 2nd. McEwen Mining’s dividend payout ratio is presently -50.00%.

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Several research analysts have recently weighed in on MUX shares. Zacks Investment Research cut shares of McEwen Mining from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of McEwen Mining in a research note on Tuesday, July 18th. TheStreet cut shares of McEwen Mining from a “c” rating to a “d+” rating in a research note on Monday, May 8th. ValuEngine cut shares of McEwen Mining from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, BidaskClub cut shares of McEwen Mining from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 6th. Three research analysts have rated the stock with a sell rating and one has given a buy rating to the company. McEwen Mining presently has a consensus rating of “Hold” and an average target price 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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Institutional Ownership by Quarter for McEwen Mining (NYSE:MUX)

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