MAG Silver (NYSEAMERICAN:MAG) Stock Price Up 5.2%

MAG Silver Corp. (NYSEAMERICAN:MAG)’s share price rose 5.2% during trading on Wednesday . The company traded as high as $14.00 and last traded at $13.99. Approximately 232,827 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 773,936 shares. The stock had previously closed at $13.30.

Analyst Ratings Changes

A number of analysts have commented on MAG shares. HC Wainwright reissued a “buy” rating and set a $17.00 price objective on shares of MAG Silver in a report on Wednesday. Stifel Nicolaus boosted their price objective on MAG Silver from $20.25 to $20.50 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Scotiabank boosted their price objective on MAG Silver from $13.50 to $14.50 and gave the stock a “sector outperform” rating in a report on Thursday, May 23rd. StockNews.com raised MAG Silver to a “sell” rating in a report on Wednesday, March 27th. Finally, Ventum Cap Mkts lowered MAG Silver from a “buy” rating to a “neutral” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.88.

MAG Silver Price Performance

The company has a market cap of $1.39 billion, a P/E ratio of 24.34 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings data on Tuesday, May 14th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.10 by $0.04. Analysts expect that MAG Silver Corp. will post 0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its holdings in shares of MAG Silver by 7.5% in the first quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock worth $105,603,000 after purchasing an additional 696,140 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of MAG Silver by 11.2% in the fourth quarter. First Eagle Investment Management LLC now owns 6,380,120 shares of the company’s stock worth $66,402,000 after purchasing an additional 642,494 shares during the period. Jupiter Asset Management Ltd. increased its holdings in shares of MAG Silver by 6.5% in the first quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock worth $26,584,000 after purchasing an additional 153,274 shares during the period. Tidal Investments LLC bought a new position in shares of MAG Silver in the first quarter worth $22,518,000. Finally, Azarias Capital Management L.P. increased its holdings in shares of MAG Silver by 73.7% in the first quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock worth $14,866,000 after purchasing an additional 596,283 shares during the period. Institutional investors own 52.50% of the company’s stock.

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.