MAG Silver (NYSEAMERICAN:MAG) Shares Gap Down to $12.40

MAG Silver Corp. (NYSEAMERICAN:MAG) gapped down before the market opened on Monday . The stock had previously closed at $12.40, but opened at $11.65. MAG Silver shares last traded at $11.96, with a volume of 355,987 shares.

Wall Street Analysts Forecast Growth

MAG has been the topic of several research analyst reports. StockNews.com upgraded shares of MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Stifel Nicolaus decreased their price objective on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 20th. Scotiabank raised shares of 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. Finally, HC Wainwright decreased their price target on MAG Silver from $19.50 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

MAG Silver Price Performance

The stock has a market cap of $1.25 billion, a P/E ratio of 25.19 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last announced its earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Analysts predict that MAG Silver Corp. will post 0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Van ECK Associates Corp grew its position in shares of MAG Silver by 4.4% during the 3rd quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock valued at $101,069,000 after buying an additional 406,335 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of MAG Silver by 11.2% during the 4th 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. Mirae Asset Global Investments Co. Ltd. boosted its position in MAG Silver by 2.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,542,545 shares of the company’s stock valued at $26,403,000 after purchasing an additional 58,849 shares during the period. Jupiter Asset Management Ltd. grew its stake in MAG Silver by 1.7% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 2,364,171 shares of the company’s stock worth $24,551,000 after buying an additional 38,784 shares during the last quarter. Finally, Invesco Ltd. increased its position 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 buying an additional 118,211 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.