McEwen Mining (MUX) Shares Gap Up to $1.93
McEwen Mining Inc (NYSE:MUX) (TSE:MUX) gapped up before the market opened on Tuesday . The stock had previously closed at $1.95, but opened at $1.93. McEwen Mining shares last traded at $1.92, with a volume of 24853 shares changing hands.
A number of brokerages have issued reports on MUX. HC Wainwright set a $5.00 target price on shares of McEwen Mining and gave the company a “buy” rating in a research note on Thursday, July 26th. Zacks Investment Research lowered shares of McEwen Mining from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 4th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $4.00.
The company has a market cap of $637.45 million, a PE ratio of -64.33 and a beta of -1.25.
The business also recently announced a semiannual dividend, which was paid on Tuesday, September 4th. Shareholders of record on Monday, August 27th were paid a dividend of $0.005 per share. This represents a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, August 24th. McEwen Mining’s dividend payout ratio (DPR) is currently -33.33%.
Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its stake in shares of McEwen Mining by 119.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 50,664 shares of the basic materials company’s stock valued at $105,000 after buying an additional 27,600 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of McEwen Mining in the 2nd quarter valued at $109,000. CIBC World Markets Inc. acquired a new stake in shares of McEwen Mining in the 1st quarter valued at $164,000. Aperio Group LLC lifted its stake in shares of McEwen Mining by 24.5% in the 2nd quarter. Aperio Group LLC now owns 122,524 shares of the basic materials company’s stock valued at $254,000 after purchasing an additional 24,119 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of McEwen Mining in the 1st quarter valued at $646,000. 30.53% of the stock is owned by institutional investors.
About McEwen Mining (NYSE:MUX)
McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. The company owns 100% interests in the El Gallo 1 mine and El Gallo 2 project in the state of Sinaloa, Mexico; and the Black Fox Complex, Buffalo Ankerite, Fuller, Davidson Tisdale, and Black Fox North properties in Canada.
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