MAG Silver Corp. (NYSEAMERICAN:MAG – Get Rating) saw an uptick in trading volume on Friday . 12,720 shares were traded during mid-day trading, a decline of 97% from the previous session's volume of 494,696 shares.The stock last traded at $12.81 and had previously closed at $12.54.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MAG. National Bank Financial reduced their price objective on shares of MAG Silver from C$28.25 to C$23.50 in a research note on Thursday, July 21st. TD Securities reduced their price objective on shares of MAG Silver from C$31.00 to C$28.00 in a research note on Wednesday, May 18th. Finally, Stifel Nicolaus reduced their price objective on shares of MAG Silver from C$29.75 to C$28.75 in a research note on Friday, August 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $25.21.

MAG Silver Stock Performance

The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 163.65 and a beta of 1.10.

Hedge Funds Weigh In On MAG Silver

Hedge funds and other institutional investors have recently modified their holdings of the company. SeaCrest Wealth Management LLC purchased a new position in shares of MAG Silver during the second quarter valued at about $43,000. Geneos Wealth Management Inc. grew its holdings 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. Merit Financial Group LLC purchased a new stake in MAG Silver in the second quarter worth about $123,000. Flow Traders U.S. LLC purchased a new stake in MAG Silver in the second quarter worth about $138,000. Finally, Aigen Investment Management LP purchased a new stake in MAG Silver in the second quarter worth about $149,000. 48.55% of the stock is owned by institutional investors.

MAG Silver Company Profile

(Get Rating)

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.

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