Short Interest in McEwen Mining Inc (NYSE:MUX) Expands By 418.0%

McEwen Mining Inc (NYSE:MUX) (TSE:MUX) was the target of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 4,890,000 shares, a growth of 418.0% from the January 31st total of 944,000 shares. Currently, 11.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 754,100 shares, the short-interest ratio is presently 6.5 days.

Analyst Ratings Changes

MUX has been the topic of a number of research reports. HC Wainwright decreased their price target on McEwen Mining from $19.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Roth Mkm reduced their target price on McEwen Mining from $12.75 to $12.25 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, StockNews.com downgraded McEwen Mining from a “hold” rating to a “sell” rating in a report on Wednesday, February 19th.

McEwen Mining Stock Performance

Shares of NYSE:MUX traded down $0.31 during midday trading on Thursday, hitting $6.91. The company’s stock had a trading volume of 486,615 shares, compared to its average volume of 950,235. The stock’s 50 day simple moving average is $7.98 and its 200 day simple moving average is $8.76. The stock has a market capitalization of $365.45 million, a price-to-earnings ratio of 3.15 and a beta of 1.42. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.74 and a current ratio of 1.17. McEwen Mining has a fifty-two week low of $5.92 and a fifty-two week high of $12.50.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MUX. New Age Alpha Advisors LLC bought a new stake in McEwen Mining during the fourth quarter worth about $38,000. Quarry LP acquired a new stake in McEwen Mining during the 3rd quarter valued at approximately $51,000. Aquatic Capital Management LLC boosted its stake in McEwen Mining by 357.9% during the fourth quarter. Aquatic Capital Management LLC now owns 7,327 shares of the basic materials company’s stock worth $57,000 after acquiring an additional 5,727 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of McEwen Mining in the 3rd quarter worth about $99,000. Finally, PDT Partners LLC purchased a new stake in McEwen Mining in the 3rd quarter valued at about $101,000. 17.03% of the stock is currently owned by institutional investors and hedge funds.

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.