MAG Silver (NYSEAMERICAN:MAG) Shares Up 4.8%

MAG Silver Corp. (NYSEAMERICAN:MAG)’s stock price rose 4.8% during trading on Thursday . The stock traded as high as $13.31 and last traded at $13.19. Approximately 93,340 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 716,347 shares. The stock had previously closed at $12.59.

Analyst Ratings Changes

MAG has been the subject of several recent analyst reports. HC Wainwright upped their target price on shares of MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Scotiabank upped their target price on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.38.

MAG Silver Stock Performance

The firm has a market capitalization of $1.50 billion, a P/E ratio of 25.95 and a beta of 1.14.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Equities research analysts forecast that MAG Silver Corp. will post 0.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MAG Silver

Several large investors have recently modified their holdings of MAG. Private Advisor Group LLC raised its position in shares of MAG Silver by 6.1% in the fourth quarter. Private Advisor Group LLC now owns 24,986 shares of the company’s stock valued at $260,000 after purchasing an additional 1,447 shares during the period. Jump Financial LLC bought a new position in shares of MAG Silver in the fourth quarter valued at about $460,000. Campbell & CO Investment Adviser LLC bought a new position in shares of MAG Silver in the fourth quarter valued at about $513,000. CIBC Asset Management Inc raised its position in shares of MAG Silver by 3.0% in the fourth quarter. CIBC Asset Management Inc now owns 90,881 shares of the company’s stock valued at $949,000 after purchasing an additional 2,652 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in shares of MAG Silver by 2.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 368,710 shares of the company’s stock valued at $3,838,000 after purchasing an additional 7,594 shares during the period. 52.50% of the stock is owned by institutional investors.

MAG Silver Company Profile

MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company's flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.