MAG Silver (NYSEAMERICAN:MAG) Shares Down 3.2%

MAG Silver Corp. (NYSEAMERICAN:MAGGet Rating) shares were down 3.2% during mid-day trading on Friday . The company traded as low as $12.70 and last traded at $12.70. Approximately 14,151 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 501,897 shares. The stock had previously closed at $13.12.

Several brokerages have weighed in on MAG. Stifel Nicolaus lowered their target price on MAG Silver from C$30.50 to C$30.00 in a research note on Wednesday, April 27th. HC Wainwright lowered their target price on MAG Silver from $22.00 to $21.50 and set a “buy” rating on the stock in a research note on Monday, April 4th. TD Securities decreased their price objective on MAG Silver from C$31.00 to C$28.00 in a report on Wednesday, May 18th. Raymond James lifted their price objective on MAG Silver from C$28.00 to C$29.00 in a report on Wednesday, April 20th. Finally, National Bank Financial decreased their price objective on MAG Silver from C$30.00 to C$28.25 in a report on Wednesday, April 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, MAG Silver currently has a consensus rating of “Buy” and a consensus target price of $27.18.

The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 158.39 and a beta of 1.10.

MAG Silver (NYSEAMERICAN:MAGGet Rating) last announced its quarterly earnings data on Thursday, March 31st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05.

Institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its stake in MAG Silver by 89.6% in the first quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company’s stock worth $54,000 after purchasing an additional 1,600 shares during the period. Citigroup Inc. lifted its holdings in shares of MAG Silver by 4,614.0% during the fourth quarter. Citigroup Inc. now owns 9,428 shares of the company’s stock valued at $148,000 after purchasing an additional 9,228 shares in the last quarter. Shell Asset Management Co. lifted its holdings in shares of MAG Silver by 22.0% during the fourth quarter. Shell Asset Management Co. now owns 9,971 shares of the company’s stock valued at $157,000 after purchasing an additional 1,800 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of MAG Silver during the third quarter valued at $172,000. Finally, LPL Financial LLC bought a new position in shares of MAG Silver during the third quarter valued at $179,000. 48.55% of the stock is currently owned by hedge funds and other institutional investors.

MAG Silver Company Profile (NYSEAMERICAN:MAG)

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

Read More

Want More Great Investing Ideas?

Receive News & Ratings for MAG Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MAG Silver and related companies with MarketBeat.com's FREE daily email newsletter.