MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $18.01 and last traded at $17.97, with a volume of 74278 shares trading hands. The stock had previously closed at $17.52.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on MAG. Scotiabank increased their price target on shares of MAG Silver from $14.50 to $15.50 and gave the company a "sector outperform" rating in a research report on Monday, August 19th. HC Wainwright increased their price target on shares of MAG Silver from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $18.00.
View Our Latest Analysis on MAG
MAG Silver Stock Up 1.7 %
The firm has a market cap of $1.84 billion, a P/E ratio of 30.74 and a beta of 1.15.
MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. On average, equities research analysts anticipate that MAG Silver Corp. will post 0.69 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Perritt Capital Management Inc. bought a new position in shares of MAG Silver in the first quarter worth $26,000. Addenda Capital Inc. bought a new position in MAG Silver in the second quarter valued at about $123,000. Banque Cantonale Vaudoise grew its position in MAG Silver by 8.6% in the first quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company's stock valued at $116,000 after acquiring an additional 876 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in MAG Silver in the second quarter valued at about $161,000. Finally, Veracity Capital LLC grew its position 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 acquiring an additional 2,396 shares during the last quarter. Institutional investors own 52.50% of the company's stock.
MAG Silver Company Profile
(
Get Free Report)
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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