JPMorgan Chase & Co. decreased its position in McEwen Mining Inc. (NYSE:MUX) by 17.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,687,359 shares of the company’s stock after selling 557,899 shares during the period. JPMorgan Chase & Co. owned about 0.90% of McEwen Mining worth $10,346,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the company. GSA Capital Partners LLP bought a new stake in shares of McEwen Mining during the second quarter worth approximately $116,000. California Public Employees Retirement System raised its stake in shares of McEwen Mining by 251.5% in the second quarter. California Public Employees Retirement System now owns 657,600 shares of the company’s stock worth $2,532,000 after buying an additional 470,500 shares in the last quarter. Spot Trading L.L.C raised its stake in shares of McEwen Mining by 104.3% in the second quarter. Spot Trading L.L.C now owns 35,552 shares of the company’s stock worth $137,000 after buying an additional 18,152 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of McEwen Mining during the second quarter worth approximately $4,801,000. Finally, CIBC World Markets Inc. raised its stake in shares of McEwen Mining by 295.6% in the second quarter. CIBC World Markets Inc. now owns 45,550 shares of the company’s stock worth $175,000 after buying an additional 34,035 shares in the last quarter. 26.04% of the stock is owned by hedge funds and other institutional investors.
McEwen Mining Inc. (NYSE:MUX) traded down 1.86% during trading on Wednesday, hitting $3.16. The stock had a trading volume of 2,499,039 shares. The company has a market capitalization of $944.68 million, a P/E ratio of 105.33 and a beta of 0.20. McEwen Mining Inc. has a 1-year low of $0.79 and a 1-year high of $4.92. The stock’s 50-day moving average price is $3.88 and its 200-day moving average price is $3.30.
Separately, Zacks Investment Research lowered McEwen Mining from a “buy” rating to a “hold” rating in a report on Thursday, July 7th.
In related news, Director Michele L. Ashby sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $3.45, for a total transaction of $34,500.00. Following the completion of the sale, the director now owns 42,500 shares of the company’s stock, valued at $146,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 26.60% of the company’s stock.
About McEwen Mining
McEwen Mining Inc is a mining and minerals exploration company. The Company is focused on precious and base metals in Argentina, Mexico and the United States. Its segments include Mexico, Argentina and the United States. It classifies its mineral properties into Production Properties, Advanced-Stage Properties and Exploration Properties.
Receive News & Ratings for McEwen Mining Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McEwen Mining Inc. and related companies with MarketBeat.com's FREE daily email newsletter.