MAG Silver (NYSEAMERICAN:MAG) Trading Up 3.7%

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) rose 3.7% during trading on Wednesday . The company traded as high as $12.17 and last traded at $12.10. Approximately 116,372 shares changed hands during trading, a decline of 86% from the average daily volume of 849,175 shares. The stock had previously closed at $11.67.

Analyst Upgrades and Downgrades

MAG has been the topic of a number of research reports. StockNews.com upgraded shares of MAG Silver to a “sell” rating in a report on Wednesday, March 27th. HC Wainwright lowered their price target on MAG Silver from $19.50 to $16.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. Scotiabank raised MAG Silver from a “sector perform” rating to a “sector outperform” rating and lowered their price target for the stock from $15.00 to $13.50 in a research report on Thursday, March 28th. Finally, Stifel Nicolaus decreased their target price on MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, March 20th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, MAG Silver presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

MAG Silver Stock Up 0.2 %

The company has a market cap of $1.25 billion, a PE ratio of 25.83 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. On average, equities analysts expect that MAG Silver Corp. will post 0.47 EPS for the current year.

Institutional Trading of MAG Silver

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased its stake in MAG Silver by 4.4% in the third quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock worth $101,069,000 after purchasing an additional 406,335 shares during the period. Quadrature Capital Ltd purchased a new stake in MAG Silver in the third quarter worth $127,000. Raymond James Financial Services Advisors Inc. increased its stake in MAG Silver by 6.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock worth $665,000 after purchasing an additional 3,950 shares during the period. Oppenheimer & Co. Inc. increased its stake in MAG Silver by 1.9% in the third quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company’s stock worth $3,745,000 after purchasing an additional 6,895 shares during the period. Finally, Invesco Ltd. increased its stake in MAG Silver by 8.8% in the third quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock worth $15,202,000 after purchasing an additional 118,211 shares during the period. Hedge funds and other institutional investors own 52.50% of the company’s stock.

About MAG Silver

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.