Fox Run Management L.L.C. Makes New $248,000 Investment in McEwen Mining Inc (NYSE:MUX)

Fox Run Management L.L.C. purchased a new position in McEwen Mining Inc (NYSE:MUX) (TSE:MUX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 31,857 shares of the basic materials company’s stock, valued at approximately $248,000. Fox Run Management L.L.C. owned approximately 0.06% of McEwen Mining at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MUX. U S Global Investors Inc. bought a new stake in McEwen Mining during the 4th quarter worth approximately $2,557,000. Empowered Funds LLC bought a new stake in shares of McEwen Mining during the fourth quarter worth $788,000. Paloma Partners Management Co acquired a new stake in shares of McEwen Mining during the third quarter worth $327,000. Point72 Asset Management L.P. bought a new stake in McEwen Mining in the 3rd quarter valued at $267,000. Finally, Geode Capital Management LLC boosted its stake in McEwen Mining by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 471,119 shares of the basic materials company’s stock worth $4,383,000 after purchasing an additional 25,844 shares during the period. Institutional investors and hedge funds own 17.03% of the company’s stock.

McEwen Mining Trading Up 2.1 %

Shares of NYSE:MUX opened at $8.03 on Friday. The company’s 50-day moving average price is $7.72 and its two-hundred day moving average price is $8.52. McEwen Mining Inc has a one year low of $6.46 and a one year high of $12.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.17 and a quick ratio of 0.74. The stock has a market capitalization of $433.26 million, a PE ratio of 3.67 and a beta of 1.39.

McEwen Mining (NYSE:MUX) (TSE:MUX) last released its earnings results on Friday, March 14th. The basic materials company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $33.52 million for the quarter, compared to the consensus estimate of $32.20 million. McEwen Mining had a return on equity of 20.77% and a net margin of 51.31%. On average, equities analysts forecast that McEwen Mining Inc will post -0.72 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on MUX shares. StockNews.com downgraded McEwen Mining from a “hold” rating to a “sell” rating in a research note on Wednesday, February 19th. Roth Mkm dropped their target price on McEwen Mining from $13.00 to $12.50 and set a “buy” rating on the stock in a research report on Friday, March 21st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price target on shares of McEwen Mining in a research note on Wednesday, March 19th.

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.