MAG Silver (NYSEAMERICAN:MAG) Sees Unusually-High Trading Volume – Here’s Why

MAG Silver Corp. (NYSEAMERICAN:MAG) shares saw strong trading volume on Thursday . 174,252 shares changed hands during trading, a decline of 55% from the previous session’s volume of 388,404 shares.The stock last traded at $15.52 and had previously closed at $14.97.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. HC Wainwright increased their price objective on shares of MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Roth Mkm downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $17.00 to $17.50 in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, MAG Silver currently has a consensus rating of “Hold” and a consensus price target of $18.38.

MAG Silver Trading Up 3.8 %

The stock has a market capitalization of $1.61 billion, a PE ratio of 21.89 and a beta of 1.08.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. As a group, equities research analysts forecast that MAG Silver Corp. will post 0.75 earnings per share for the current year.

Institutional Trading of MAG Silver

Institutional investors have recently modified their holdings of the stock. Mackenzie Financial Corp lifted its position in shares of MAG Silver by 310.5% during the 2nd quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock worth $2,224,000 after buying an additional 144,007 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of MAG Silver by 4.8% during the 3rd quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after buying an additional 467,817 shares during the last quarter. PCJ Investment Counsel Ltd. lifted its position in shares of MAG Silver by 38.1% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock worth $5,196,000 after buying an additional 101,870 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of MAG Silver by 199.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after buying an additional 254,553 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of MAG Silver by 304.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock worth $299,000 after buying an additional 19,253 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors.

MAG Silver Company Profile

MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company's flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.