MAG Silver (NYSEAMERICAN:MAG) Sees Unusually-High Trading Volume

MAG Silver Corp. (NYSEAMERICAN:MAGGet Free Report) saw strong trading volume on Wednesday . 250,834 shares were traded during mid-day trading, a decline of 65% from the previous session’s volume of 725,310 shares.The stock last traded at $11.78 and had previously closed at $11.45.

Analyst Ratings Changes

Several brokerages recently commented on MAG. Stifel Nicolaus reduced their price objective on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. StockNews.com raised shares of MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Scotiabank raised shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and decreased their target price for the stock from $15.00 to $13.50 in a research report on Thursday, March 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.50 price target (down from $19.50) on shares of MAG Silver in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, MAG Silver presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.63.

Check Out Our Latest Stock Report on MAG

MAG Silver Trading Up 5.9 %

The stock has a market capitalization of $1.25 billion, a P/E ratio of 25.77 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAGGet Free Report) last posted its quarterly earnings data on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Sell-side analysts forecast that MAG Silver Corp. will post 0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MAG Silver

A number of large investors have recently made changes to their positions in MAG. Advisor Group Holdings Inc. increased its holdings in shares of MAG Silver by 73.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 24,835 shares of the company’s stock valued at $394,000 after purchasing an additional 10,513 shares during the period. Cetera Advisor Networks LLC acquired a new position in MAG Silver in the first quarter worth approximately $219,000. BlackRock Inc. increased its holdings in MAG Silver by 1.0% in the first quarter. BlackRock Inc. now owns 670,578 shares of the company’s stock worth $10,843,000 after buying an additional 6,578 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in MAG Silver by 115.8% in the first quarter. Dimensional Fund Advisors LP now owns 307,218 shares of the company’s stock worth $4,968,000 after buying an additional 164,859 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in MAG Silver by 7.9% during the first quarter. Vanguard Group Inc. now owns 54,836 shares of the company’s stock worth $886,000 after purchasing an additional 4,024 shares during the period. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Company Profile

(Get Free Report)

MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.

Further Reading

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