Saturday, June 25, 2022

Checking in on McEwen Mining Inc. (MUX) after recent insiders movement

McEwen Mining Inc.’s recently made public that its CHIEF OPERATING OFFICER Mah G. Peter acquired Company’s shares for reported $24990.0 on Mar 15. In the deal valued at $1.06 per share,23,575 shares were bought. As a result of this transaction, Mah G. Peter now holds 31,575 shares worth roughly $ 15787.5.


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Then, Ladd-Kruger Anna Man-Yue bought 10,000 shares, generating $10,400 in total proceeds. Upon buying the shares at $1.04, the CHIEF FINANCIAL OFFICER now owns 50,000 shares.

Before that, Ladd-Kruger Anna Man-Yue bought 20,000 shares. McEwen Mining Inc. shares valued at $21,400 were divested by the CHIEF FINANCIAL OFFICER at a price of $1.07 per share. As a result of the transaction, Ladd-Kruger Anna Man-Yue now holds 40,000 shares, worth roughly $20000.0.

PT values the company’s stock at a premium of 75.0 to its Tuesday closing price. A number of analysts have revised their coverage, including B. Riley FBR’s analysts, who began to cover the stock in early September with a ‘”a Buy”‘ rating. ROTH Capital began covering MUX with a “Buy” recommendation on December 11, 2017.

Price Performance Review of MUX

On Tuesday, McEwen Mining Inc. [NYSE:MUX] saw its stock jump 0.40% to $0.50. On the same session, the stock had its day’s lowest price of $0.48, but rose to a high of $0.51. Over the last five days, the stock has lost -5.66%. McEwen Mining Inc. shares have fallen nearly -43.60% since the year began. Nevertheless, the stocks have fallen -65.75% over the past one year. While a 52-week high of $1.52 was reached on 01/20/22, a 52-week low of $0.46 was recorded on 05/12/22. SMA at 50 days reached $0.6233, while 200 days put it at $0.8829. A total of 1.5 million shares were traded, compared to the trading of 2.86 million shares in the previous session.

Levels Of Support And Resistance For MUX Stock

The 24-hour chart illustrates a support level at 0.4833, which if violated will result in even more drops to 0.4667. On the upside, there is a resistance level at 0.5133. A further resistance level may holdings at 0.5267. The Relative Strength Index (RSI) on the 14-day chart is 39.22, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0479, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.19%. Stochastics %K at 13.94% indicates the stock is a buying.

How much short interest is there in McEwen Mining Inc.?

A steep rise in short interest was recorded in McEwen Mining Inc. stocks on Apr 28, 2022, dropping by -4.0 million shares to a total of 7.27 million shares. Yahoo Finance data shows the prior-month short interest on Mar 30, 2022 was 11.27 million shares. There was a decline of -55.02%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.86% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.08.

McEwen Mining Inc. [MUX] – Who Are The Largest Shareholders?

In filings from Van Eck Associates Corp., it is revealed that the company now owns 22,461,756 shares, or roughly 4.74% of the outstanding MUX shares. In other words, the investor’s shares have risen by 1,730,803 from its previous 13-F filing of 20730953.0. Additionally, Global X Management Co. LLC increased 5.02% of its stake after which the total value it holdings stand at $5,201,069, while BlackRock Fund Advisors added 11.78% of its stake to hold $5.2 million in the firm. Over the last quarter, The Vanguard Group, Inc. purchased 109,048 shares of McEwen Mining Inc., while ETF Managers Group LLC bought 777,162 shares. At present, Weiss Asset Management LP is holding 4,548,990 shares valued at $2.68 million. Two Sigma Investments LP owned 4,206,869 shares of the company at the time of its most recent 13F filing, worth $2.48 million.

According to FactSet, McEwen Mining Inc.’s share price will average $1.25 in the next year, based on opinions of analysts polled by the firm. This is up nearly 150.0 percent from its previous closing price of $0.50. Analysts expect McEwen Mining Inc. stock to reach the higher price of $1.50, while the lowest price estimate is $1.00. However, 3 analysts have rated MUX stock as a Buy in their predictions for 2022. The most recent change occurred on April 20, 2015 when H.C. Wainwright began covering the stock and recommended ‘”a Buy”‘ rating along with a $1.25 price target.

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