Smith Affiliated Capital Corp. buys $114,344 stake in McEwen Mining Inc (MUX)

McEwen Mining Inc (MUX) : Smith Affiliated Capital Corp. scooped up 4,830 additional shares in McEwen Mining Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 12, 2016. The investment management firm now holds a total of 48,657 shares of McEwen Mining Inc which is valued at $114,344.McEwen Mining Inc makes up approximately 0.07% of Smith Affiliated Capital Corp.’s portfolio.

McEwen Mining Inc opened for trading at $2.31 and hit $2.42 on the upside on Friday, eventually ending the session at $2.35, with a gain of 2.62% or 0.06 points. The heightened volatility saw the trading volume jump to 18,01,235 shares. Company has a market cap of $651 M.

Other Hedge Funds, Including , Rathbone Brothers Plc added MUX to its portfolio by purchasing 20,000 company shares during the most recent quarter which is valued at $49,000.Creative Planning reduced its stake in MUX by selling 7,000 shares or 86.96% in the most recent quarter. The Hedge Fund company now holds 1,050 shares of MUX which is valued at $2,573.

McEwen Mining Inc. is a mining and minerals exploration company. The Company is focused on precious and base metals in Argentina Mexico and the United States. Its operating segments include Argentina Mexico and the United States. It has a land position consisting of mining claims leases of mining claims or concessions of around 814 square miles in Argentina 697 square miles in Mexico and 241 square miles in Nevada. It holds around 49% interest in Minera Santa Cruz S.A. (MSC) owner and operator of the producing San Jose mine in Santa Cruz Argentina which is controlled by the majority owner of the joint venture Hochschild Mining plc (Hochschild). It also owns the El Gallo 1 gold mine in Sinaloa Mexico. In addition to its operating properties it also holds interests in numerous exploration stage properties and projects in Argentina Mexico and the United States including the Gold Bar (Gold Bar) and Los Azules (Los Azules) projects.

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