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.
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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.
MAG Silver (NYSEAMERICAN:MAG – Get Rating) last posted its quarterly earnings results on Monday, August 15th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02.
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
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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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