Shares of McEwen Mining (MUX) Drops by -2.34%

McEwen Mining (MUX) has risen sharply, recording gains of 38.25% in the past 4 weeks. However, the stock has corrected -2.34% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 32.46% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week. The stock has recorded a 20-day Moving Average of 15.2% and the 50-Day Moving Average is 46.45%.

McEwen Mining (NYSE:MUX): The stock opened at $4.57 on Friday but the bulls could not build on the opening and the stock topped out at $4.67 for the day. The stock traded down to $4.53 during the day, due to lack of any buying support eventually closed down at $4.59 with a loss of -1.08% for the day. The stock had closed at $4.64 on the previous day. The total traded volume was 2,467,202 shares.


The company Insiders own 26.6% of McEwen Mining shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by 3.33% . Institutional Investors own 20.66% of McEwen Mining shares. During last six month period, the net percent change held by insiders has seen a change of 3.33%. In a related news, Sutherland Colin, Officer (President) of McEwen Mining Inc., executed a transaction worth $53,839 on June 28, 2016. A total of 15,166 shares were purchased at an average price of $3.55. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

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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