MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 174,252 shares traded hands during trading, a decline of 55% from the previous session's volume of 388,404 shares.The stock last traded at $15.52 and had previously closed at $14.97.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on MAG. Roth Mkm cut shares of MAG Silver from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $17.00 to $17.50 in a research note on Thursday, October 24th. HC Wainwright boosted their price objective on MAG Silver from $18.00 to $20.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Roth Capital downgraded MAG Silver from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 24th. Finally, StockNews.com upgraded MAG Silver from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $18.38.
View Our Latest Research Report on MAG
MAG Silver Price Performance
The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 21.37 and a beta of 1.08.
MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last released its earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. As a group, analysts expect that MAG Silver Corp. will post 0.75 EPS for the current fiscal year.
Institutional Investors Weigh In On MAG Silver
Institutional investors and hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of MAG Silver during the 3rd quarter worth $28,000. Veracity Capital LLC grew its stake in MAG Silver by 16.8% in the third quarter. Veracity Capital LLC now owns 16,653 shares of the company's stock valued at $234,000 after purchasing an additional 2,396 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of MAG Silver during the third quarter valued at about $52,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of MAG Silver during the third quarter valued at about $140,000. Finally, DF Dent & Co. Inc. bought a new stake in shares of MAG Silver in the 3rd quarter valued at about $140,000. 52.50% of the stock is owned by institutional investors.
About MAG Silver
(
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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.
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