MAG Silver (NYSEAMERICAN:MAG) Stock Price Down 1.2% – Time to Sell?

MAG Silver Corporation (NYSEAMERICAN:MAG) was down 1.2% during mid-day trading on Wednesday . The stock traded as low as $24.35 and last traded at $24.47. Approximately 2,177,252 shares changed hands during trading, an increase of 14% from the average daily volume of 1,906,338 shares. The stock had previously closed at $24.76.

MAG Silver Trading Down 1.2%

The stock has a market capitalization of $2.54 billion, a P/E ratio of 24.72 and a beta of 0.73. The company has a 50-day moving average price of $24.47 and a 200 day moving average price of $23.94.

Institutional Trading of MAG Silver

A number of institutional investors have recently modified their holdings of MAG. Newbridge Financial Services Group Inc. purchased a new position in shares of MAG Silver in the 2nd quarter worth approximately $434,000. Marex Group plc acquired a new stake in MAG Silver in the second quarter valued at approximately $319,000. Vident Advisory LLC grew its holdings in MAG Silver by 5.9% in the second quarter. Vident Advisory LLC now owns 32,682 shares of the company’s stock worth $691,000 after purchasing an additional 1,822 shares during the last quarter. HRT Financial LP acquired a new position in shares of MAG Silver during the second quarter worth $3,108,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of MAG Silver in the 2nd quarter worth $28,000. 52.50% of the stock is currently owned by institutional investors.

About MAG Silver

MAG Silver Corp is a Vancouver-based exploration company specializing in high-grade silver properties in the Americas. The company’s primary focus is on the discovery, acquisition and development of silver and related base-metal projects with the potential for large-scale, high-grade mineralization.

Its flagship project is the Juanicipio joint venture in the Fresnillo silver district of Zacatecas, Mexico, where MAG holds a 44% interest alongside Fresnillo plc. Juanicipio hosts multiple high-grade silver-lead-zinc veins and is progressing through detailed infill drilling, feasibility studies and permitting phases toward production.

In addition to Juanicipio, MAG Silver holds exploration interests in the Cinco de Mayo district in Zacatecas and the Deer Trail property in Nevada.