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Corporate Action McEwen Mining Inc


Martinius

Question

On 28/07/2022 there were two trades shown as Corporate-Action for my McEwen Mining Inc shares. One was a sell action selling my total quantity of old shares with no price. The other was a buy action buying back approximately 10% fewer new shares, again at no cost. I think this was for a consolidation to arrive at a situation where I had 1 new share for every 10 of the old shares. On 19/08/2022 there was what appears to be a tidy up operation to account for 7 of the old shares which did not equate to a whole new share.

I assume the mathematics of this worked OK. However it has left me with the situation where my profit or loss for the McEwen shares does not show up properly. It shows the market value of these shares to be practically the same as the profit, which it would do if I bought them at no cost.

How can I adjust the figures to give me the real profit or loss of these shares in particular, and my portfolio as a whole?

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On 03/10/2022 at 03:32, Martinius said:

On 28/07/2022 there were two trades shown as Corporate-Action for my McEwen Mining Inc shares. One was a sell action selling my total quantity of old shares with no price. The other was a buy action buying back approximately 10% fewer new shares, again at no cost. I think this was for a consolidation to arrive at a situation where I had 1 new share for every 10 of the old shares. On 19/08/2022 there was what appears to be a tidy up operation to account for 7 of the old shares which did not equate to a whole new share.

I assume the mathematics of this worked OK. However it has left me with the situation where my profit or loss for the McEwen shares does not show up properly. It shows the market value of these shares to be practically the same as the profit, which it would do if I bought them at no cost.

How can I adjust the figures to give me the real profit or loss of these shares in particular, and my portfolio as a whole?

Hi @Martinius

Unfortunately we cannot discuss account queries on the IG community platform, as this is a public platform. I have sent you an email regarding your position. 

If a company performs a stock consolidation your original position will be closed at your original opening level and size, ensuring no profit or loss is realized. A new position will then be opened to reflect the ratio of the consolidation. The book cost would have to be edited to reflect the true cost. You can also edit your book cost on the platform. 

All the best, OfentseIG

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