MAG Silver (TSE:MAG) Stock Jumps 2.9% – Here’s Why

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG)’s share price shot up 2.9% on Tuesday. The company traded as high as C$34.98 and last traded at C$34.38. 146,911 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 281,816 shares. The stock had previously closed at C$33.41.

MAG Silver Stock Up 2.9%

The company has a current ratio of 45.24, a quick ratio of 25.31 and a debt-to-equity ratio of 0.38. The firm’s 50 day simple moving average is C$34.38 and its 200-day simple moving average is C$34.38. The stock has a market capitalization of C$3.56 billion, a price-to-earnings ratio of 34.73, a price-to-earnings-growth ratio of 0.84 and a beta of 1.12.

MAG Silver Company Profile

MAG Silver Corp is a Canadian mining company. It is focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district-scale, silver-dominant projects in the Americas. Its principal focus and asset are the Juanicipio Project (44%), being developed in a JV partnership with Fresnillo Plc (56%). Juanicipio is located in the Fresnillo Silver Trend in Mexico, and the JV is constructing and developing the surface and underground infrastructure on the property to support a 4,000tpd mining operation.