Intel stock extends gains after report of possible U.S. government stake
Director Ball Ian J, on August 12, sold 2,656 shares of McEwen Inc. (NYSE:MUX) common stock at a price of $10.49, for a total value of $27,861. The mining company, with a market capitalization of $565 million, has seen its shares surge over 40% in the past six months, according to InvestingPro data.
The sales were executed at prices ranging from C$14.44 to C$14.45, converted to USD using an exchange rate of C$1.00 = US$0.7260. The shares were held indirectly through a Canadian RRSP Account. Following the transaction, Ball Ian J holds zero shares in the company. InvestingPro analysis indicates the stock is trading near its Fair Value, with analysts setting price targets between $13.75 and $17.00. Discover more insights and 6 additional ProTips for MUX in the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, McEwen Mining announced its intention to acquire Canadian Gold Corp. in an all-stock transaction. The deal values Canadian Gold at C$0.35 per share, offering a 26% premium to its 30-day volume-weighted average price as of July 25. Upon completion, Canadian Gold shareholders will hold approximately 8.2% of the combined company. Additionally, H.C. Wainwright raised its price target for McEwen Mining to $17, maintaining a Buy rating on the stock. This adjustment follows the announcement of the acquisition agreement with Canadian Gold. In other developments, John Florek, CEO of Sankamap Metals, has been appointed to McEwen Mining’s Board of Directors. Florek brings over 30 years of experience in exploration and resource development to the board while continuing his role at Sankamap Metals. These recent developments reflect strategic moves by McEwen Mining to expand its operations and enhance its leadership team.
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