Shares of MAG Silver Corp. (NYSEAMERICAN:MAG – Get Rating) gapped up before the market opened on Monday . The stock had previously closed at $13.09, but opened at $13.57. MAG Silver shares last traded at $13.57, with a volume of 9,738 shares changing hands.
Wall Street Analyst Weigh In
MAG has been the subject of several recent research reports. Stifel Nicolaus lowered their target price on shares of MAG Silver from C$29.75 to C$28.75 in a report on Friday, August 19th. National Bank Financial lowered their target price on shares of MAG Silver from C$28.25 to C$23.50 in a report on Thursday, July 21st. Finally, TD Securities lowered their target price on shares of MAG Silver from C$31.00 to C$28.00 in a report on Wednesday, May 18th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.21.
MAG Silver Stock Performance
The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 158.77 and a beta of 1.10.
Institutional Investors Weigh In On MAG Silver
Large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in MAG Silver by 173.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 142,359 shares of the company’s stock worth $2,231,000 after purchasing an additional 90,357 shares during the period. Gamco Investors INC. ET AL grew its position in shares of MAG Silver by 9.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 40,930 shares of the company’s stock valued at $641,000 after acquiring an additional 3,410 shares during the period. First Trust Advisors LP grew its position in shares of MAG Silver by 14.4% during the 4th quarter. First Trust Advisors LP now owns 43,545 shares of the company’s stock valued at $682,000 after acquiring an additional 5,492 shares during the period. Van ECK Associates Corp grew its position in shares of MAG Silver by 13.5% during the 1st quarter. Van ECK Associates Corp now owns 4,751,144 shares of the company’s stock valued at $76,826,000 after acquiring an additional 566,717 shares during the period. Finally, ETF Managers Group LLC grew its position in shares of MAG Silver by 52.7% during the 4th quarter. ETF Managers Group LLC now owns 4,358,743 shares of the company’s stock valued at $67,502,000 after acquiring an additional 1,505,098 shares during the period. Institutional investors own 48.55% of the company’s stock.
MAG Silver Company Profile
MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. The company is headquartered in Vancouver, Canada.
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