MAG Silver (NYSEAMERICAN:MAG) Sees Unusually-High Trading Volume

Shares of MAG Silver Corp. (NYSEAMERICAN:MAGGet Free Report) saw unusually-strong trading volume on Wednesday . Approximately 384,803 shares changed hands during mid-day trading, a decline of 42% from the previous session’s volume of 659,196 shares.The stock last traded at $9.46 and had previously closed at $9.01.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MAG shares. HC Wainwright restated a “buy” rating and set a $18.50 price objective (down from $19.50) on shares of MAG Silver in a research report on Wednesday, March 20th. Scotiabank upgraded shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and set a $13.50 price target for the company in a report on Thursday. Stifel Nicolaus dropped their price target on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, March 20th. Finally, StockNews.com upgraded shares of MAG Silver to a “sell” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, MAG Silver presently has an average rating of “Moderate Buy” and a consensus price target of $18.63.

View Our Latest Analysis on MAG Silver

MAG Silver Price Performance

The company has a market capitalization of $1.09 billion, a P/E ratio of 21.02 and a beta of 1.13.

MAG Silver (NYSEAMERICAN:MAGGet Free Report) last released its quarterly earnings data on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Equities research analysts predict that MAG Silver Corp. will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MAG Silver

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of MAG Silver during the second quarter valued at about $11,613,000. Azarias Capital Management L.P. bought a new position in MAG Silver in the 4th quarter valued at about $8,420,000. First Eagle Investment Management LLC boosted its stake in MAG Silver by 11.2% during the 4th quarter. First Eagle Investment Management LLC now owns 6,380,120 shares of the company’s stock valued at $66,402,000 after purchasing an additional 642,494 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in MAG Silver by 103.5% during the 4th quarter. 1832 Asset Management L.P. now owns 865,000 shares of the company’s stock worth $13,520,000 after purchasing an additional 440,000 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of MAG Silver by 98.1% in the first quarter. Invesco Ltd. now owns 849,779 shares of the company’s stock worth $13,741,000 after purchasing an additional 420,757 shares during the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Company Profile

(Get Free Report)

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

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