MAG Silver (NYSEAMERICAN:MAG) Shares Gap Up to $11.04

MAG Silver Corp. (NYSEAMERICAN:MAG – Get Rating)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $11.04, but opened at $11.57. MAG Silver shares last traded at $11.77, with a volume of 253,340 shares traded.

Analyst Upgrades and Downgrades

MAG has been the topic of a number of research analyst reports. CIBC decreased their target price on MAG Silver from C$27.00 to C$24.00 in a research report on Tuesday, February 7th. TD Securities upped their price objective on MAG Silver from C$24.00 to C$28.00 in a research report on Tuesday, November 15th. National Bank Financial decreased their price objective on MAG Silver from C$26.50 to C$26.00 in a research report on Friday, February 17th. Stifel Nicolaus decreased their price objective on MAG Silver from C$28.75 to C$28.25 in a research report on Tuesday, November 15th. Finally, HC Wainwright restated a “buy” rating and set a $17.00 price objective (up from $16.00) on shares of MAG Silver in a research report on Tuesday, February 7th.

MAG Silver Stock Up 2.1 %

The stock has a market cap of $1.22 billion, a PE ratio of 42.46 and a beta of 1.10.

Institutional Investors Weigh In On MAG Silver

Several hedge funds and other institutional investors have recently modified their holdings of MAG. Advisor Group Holdings Inc. grew its stake in MAG Silver by 73.4% in the first quarter. Advisor Group Holdings Inc. now owns 24,835 shares of the company’s stock worth $394,000 after purchasing an additional 10,513 shares in the last quarter. Cetera Advisor Networks LLC bought a new position in MAG Silver in the first quarter worth approximately $219,000. BlackRock Inc. boosted its position in MAG Silver by 1.0% during the 1st quarter. BlackRock Inc. now owns 670,578 shares of the company’s stock valued at $10,843,000 after acquiring an additional 6,578 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in MAG Silver by 115.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 307,218 shares of the company’s stock valued at $4,968,000 after acquiring an additional 164,859 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in MAG Silver by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 54,836 shares of the company’s stock valued at $886,000 after acquiring an additional 4,024 shares in the last quarter. 40.06% of the stock is currently owned by hedge funds and other institutional investors.

MAG Silver Company Profile

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MAG Silver Corp. operates as a Canadian development and exploration company, which focuses on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district scale, silver-dominant projects in the Americas. Its principal focus and asset is the Juanicipio Project (44%), being developed with Fresnillo Plc (56%), the Operator.