MAG Silver (NYSEAMERICAN:MAG) Sees Unusually-High Trading Volume – Here’s Why

MAG Silver Corp. (NYSEAMERICAN:MAG) shares saw an uptick in trading volume on Thursday . 174,252 shares were traded during mid-day 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.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MAG. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Roth Capital cut MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and upped their target price for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. Finally, HC Wainwright increased their price target on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, MAG Silver currently has an average rating of “Hold” and a consensus price target of $18.38.

MAG Silver Price Performance

The company has a market capitalization of $1.61 billion, a P/E ratio of 21.89 and a beta of 1.08.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. Equities research analysts predict that MAG Silver Corp. will post 0.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MAG Silver

Large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its holdings in MAG Silver by 4.8% in the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after acquiring an additional 467,817 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in MAG Silver by 199.7% in the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after acquiring an additional 254,553 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in MAG Silver by 69.1% in the third quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock worth $6,407,000 after acquiring an additional 186,445 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in MAG Silver by 310.5% in the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock worth $2,224,000 after acquiring an additional 144,007 shares in the last quarter. Finally, PCJ Investment Counsel Ltd. boosted its holdings in MAG Silver by 38.1% in the third quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock worth $5,196,000 after acquiring an additional 101,870 shares in the last quarter. Institutional investors and hedge funds 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.