MAG Silver (NYSEAMERICAN:MAG) Shares Gap Up – What’s Next?

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) gapped up before the market opened on Tuesday . The stock had previously closed at $14.74, but opened at $15.09. MAG Silver shares last traded at $14.43, with a volume of 96,403 shares traded.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price objective on shares of MAG Silver in a report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.63.

MAG Silver Price Performance

The stock has a market capitalization of $1.50 billion, a PE ratio of 20.45 and a beta of 1.09.

Institutional Investors Weigh In On MAG Silver

Several large investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of MAG Silver during the third quarter valued at approximately $28,000. Quantbot Technologies LP bought a new stake in MAG Silver in the 3rd quarter worth about $52,000. DF Dent & Co. Inc. bought a new position in shares of MAG Silver during the 3rd quarter worth approximately $140,000. Pekin Hardy Strauss Inc. purchased a new position in shares of MAG Silver in the 3rd quarter worth approximately $140,000. Finally, International Assets Investment Management LLC bought a new position in shares of MAG Silver in the third quarter valued at approximately $148,000. 52.50% of the stock is currently owned by institutional investors and hedge funds.

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.