MAG Silver (NYSEAMERICAN:MAG) Stock Price Up 3.7%

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) were up 3.7% on Wednesday . The stock 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 Ratings Changes

Several research analysts have recently weighed in on MAG shares. HC Wainwright reduced their target price on MAG Silver from $19.50 to $16.00 and set a “buy” rating for the company in a research note on Thursday, April 4th. Scotiabank upgraded MAG Silver from a “sector perform” rating to a “sector outperform” rating and dropped their target price for the company from $15.00 to $13.50 in a report on Thursday, March 28th. Stifel Nicolaus decreased their price target on MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, March 20th. Finally, StockNews.com raised MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.00.

MAG Silver Stock Up 0.2 %

The company has a market capitalization 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. As a group, research analysts anticipate that MAG Silver Corp. will post 0.47 earnings per share for the current year.

Institutional Investors Weigh In On MAG Silver

A number of hedge funds have recently bought and sold shares of MAG. Advisor Group Holdings Inc. raised its position in MAG Silver by 73.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 24,835 shares of the company’s stock valued at $394,000 after purchasing an additional 10,513 shares in the last quarter. Cetera Advisor Networks LLC purchased a new position in shares of MAG Silver in the 1st quarter valued at about $219,000. BlackRock Inc. increased its holdings in shares of MAG Silver by 1.0% in the 1st quarter. BlackRock Inc. now owns 670,578 shares of the company’s stock valued at $10,843,000 after acquiring an additional 6,578 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of MAG Silver by 115.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 307,218 shares of the company’s stock valued at $4,968,000 after acquiring an additional 164,859 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of MAG Silver by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 54,836 shares of the company’s stock valued at $886,000 after acquiring an additional 4,024 shares during the last quarter. Institutional investors and hedge funds 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.