MAG Silver Corp. (NYSEAMERICAN:MAG – Get Rating) shares saw unusually-strong trading volume on Tuesday . Approximately 14,569 shares were traded during trading, a decline of 97% from the previous session’s volume of 503,078 shares.The stock last traded at $15.49 and had previously closed at $15.11.
Analyst Ratings Changes
Several brokerages have issued reports on MAG. National Bank Financial boosted their price target on MAG Silver from C$23.50 to C$24.50 in a research note on Thursday, October 13th. TD Securities boosted their target price on shares of MAG Silver from C$24.00 to C$28.00 in a research report on Tuesday, November 15th. Finally, Stifel Nicolaus reduced their price target on shares of MAG Silver from C$28.75 to C$28.25 in a report on Tuesday, November 15th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.29.
MAG Silver Stock Up 3.0 %
The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 200.03 and a beta of 1.10.
Institutional Investors Weigh In On MAG Silver
Several institutional investors have recently bought and sold shares of the stock. Balyasny Asset Management LLC bought a new stake in MAG Silver during the third quarter worth $308,000. Alliancebernstein L.P. bought a new stake in MAG Silver during the third quarter worth $152,000. Knoll Capital Management LLC grew its holdings in MAG Silver by 177.5% during the third quarter. Knoll Capital Management LLC now owns 48,000 shares of the company’s stock worth $599,000 after buying an additional 30,700 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in MAG Silver by 313.2% during the third quarter. Cubist Systematic Strategies LLC now owns 52,204 shares of the company’s stock worth $652,000 after buying an additional 39,570 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in MAG Silver by 4.3% during the third quarter. Oppenheimer & Co. Inc. now owns 348,398 shares of the company’s stock worth $4,348,000 after buying an additional 14,278 shares in the last quarter. Institutional investors own 48.55% of the company’s stock.
About MAG Silver
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.
- Get a free copy of the StockNews.com research report on MAG Silver (MAG)
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