McEwen Mining Inc (NYSE:MUX – Get Rating) (TSE:MUX) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 1,360,000 shares, an increase of 12.4% from the September 30th total of 1,210,000 shares. Based on an average daily trading volume, of 313,200 shares, the short-interest ratio is currently 4.3 days. Approximately 3.5% of the shares of the stock are short sold.
Institutional Trading of McEwen Mining
A number of large investors have recently added to or reduced their stakes in MUX. Jane Street Group LLC boosted its holdings in shares of McEwen Mining by 47.1% in the second quarter. Jane Street Group LLC now owns 121,791 shares of the basic materials company’s stock worth $53,000 after buying an additional 38,985 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of McEwen Mining by 48.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 342,800 shares of the basic materials company’s stock worth $151,000 after buying an additional 112,600 shares during the period. Toronto Dominion Bank grew its holdings in shares of McEwen Mining by 2.0% during the second quarter. Toronto Dominion Bank now owns 199,272 shares of the basic materials company’s stock valued at $87,000 after buying an additional 3,993 shares in the last quarter. UBS Group AG raised its position in McEwen Mining by 37.3% during the second quarter. UBS Group AG now owns 83,005 shares of the basic materials company’s stock valued at $36,000 after buying an additional 22,541 shares during the period. Finally, Alps Advisors Inc. lifted its stake in McEwen Mining by 244.4% in the 2nd quarter. Alps Advisors Inc. now owns 6,063,468 shares of the basic materials company’s stock worth $2,663,000 after acquiring an additional 4,303,001 shares in the last quarter.
McEwen Mining Stock Performance
MUX opened at $3.64 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.64 and a quick ratio of 1.21. The stock’s fifty day moving average is $3.39 and its 200-day moving average is $4.43. McEwen Mining has a one year low of $2.81 and a one year high of $11.80.
McEwen Mining (NYSE:MUX – Get Rating) (TSE:MUX) last issued its quarterly earnings results on Wednesday, August 10th. The basic materials company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.06). McEwen Mining had a negative return on equity of 17.97% and a negative net margin of 54.69%. The business had revenue of $30.65 million during the quarter, compared to the consensus estimate of $33.20 million. On average, equities research analysts forecast that McEwen Mining will post -1.25 EPS for the current year.
Wall Street Analyst Weigh In
Separately, StockNews.com began coverage on shares of McEwen Mining in a research note on Wednesday, October 12th. They issued a “sell” rating for the company.
McEwen Mining Company Profile
McEwen Mining Inc engages in the exploration, development, production, and sale of gold and silver. It also explores for copper deposits. The company owns 100% interests in the El Gallo and Fenix projects located in Mexico; and the Black Fox Mine and Stock Mill, Grey Fox, and Froome and Tamarack properties in Canada.
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