McEwen Mining Inc. (MUX) Coverage Initiated at Cantor Fitzgerald

Research analysts at Cantor Fitzgerald started coverage on shares of McEwen Mining Inc. (NYSE:MUX) (TSE:MUX) in a research report issued to clients and investors on Thursday. The firm set a “buy” rating on the basic materials company’s stock.

Several other research analysts also recently weighed in on MUX. BidaskClub upgraded McEwen Mining from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded McEwen Mining from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. Finally, HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of McEwen Mining in a research note on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $5.00.

Shares of McEwen Mining (NYSE MUX) opened at 1.94 on Thursday. McEwen Mining has a 12 month low of $1.92 and a 12 month high of $4.43. The company’s market capitalization is $605.82 million. The firm’s 50-day moving average is $2.19 and its 200 day moving average is $2.55.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG boosted its position in shares of McEwen Mining by 0.4% during the 1st quarter. UBS Group AG now owns 96,369 shares of the basic materials company’s stock valued at $293,000 after acquiring an additional 351 shares during the last quarter. Profund Advisors LLC boosted its position in shares of McEwen Mining by 0.9% during the 2nd quarter. Profund Advisors LLC now owns 39,122 shares of the basic materials company’s stock valued at $103,000 after acquiring an additional 366 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of McEwen Mining by 1.4% during the 1st quarter. Parametric Portfolio Associates LLC now owns 42,368 shares of the basic materials company’s stock valued at $129,000 after acquiring an additional 589 shares during the last quarter. Advisor Group Inc. boosted its position in shares of McEwen Mining by 2.7% during the 2nd quarter. Advisor Group Inc. now owns 100,236 shares of the basic materials company’s stock valued at $264,000 after acquiring an additional 2,594 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of McEwen Mining by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,202,721 shares of the basic materials company’s stock valued at $3,163,000 after acquiring an additional 6,384 shares during the last quarter. Hedge funds and other institutional investors own 27.77% of the company’s stock.

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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