MAG Silver Corp. (NYSEAMERICAN:MAG – Get Rating) shares fell 8.3% during trading on Monday . The stock traded as low as $10.77 and last traded at $10.79. 63,069 shares were traded during mid-day trading, a decline of 87% from the average session volume of 499,561 shares. The stock had previously closed at $11.77.
Wall Street Analyst Weigh In
Several brokerages have recently commented on MAG. National Bank Financial reduced their target price on MAG Silver from C$28.25 to C$23.50 in a report on Thursday, July 21st. Stifel Nicolaus reduced their target price on MAG Silver from C$29.75 to C$28.75 in a report on Friday, August 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $25.21.
Get MAG Silver alerts:MAG Silver Stock Down 7.7 %
The firm has a market capitalization of $1.07 billion, a PE ratio of 136.64 and a beta of 1.10.
MAG Silver (NYSEAMERICAN:MAG – Get Rating) last posted its quarterly earnings data on Monday, August 15th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02.Institutional Trading of MAG Silver
Institutional investors and hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. raised its position in shares of MAG Silver by 89.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company's stock valued at $54,000 after acquiring an additional 1,600 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of MAG Silver during the 2nd quarter valued at $43,000. Merit Financial Group LLC bought a new stake in shares of MAG Silver during the 2nd quarter valued at $123,000. Flow Traders U.S. LLC bought a new stake in shares of MAG Silver during the 2nd quarter valued at $138,000. Finally, Aigen Investment Management LP bought a new stake in shares of MAG Silver during the 2nd quarter valued at $149,000. Institutional investors own 48.55% of the company's stock.
About MAG Silver
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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.
Further Reading
- Get a free copy of the StockNews.com research report on MAG Silver (MAG)
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