MAG Silver (NYSEAMERICAN:MAG) Stock Price Up 5.5%

MAG Silver Corp (NYSEAMERICAN:MAG)’s stock price rose 5.5% during trading on Thursday . The stock traded as high as $11.78 and last traded at $11.73, approximately 402,977 shares changed hands during mid-day trading. An increase of 32% from the average daily volume of 305,558 shares. The stock had previously closed at $11.12.

MAG has been the subject of several analyst reports. Macquarie reiterated a “buy” rating on shares of MAG Silver in a research note on Friday, April 5th. Zacks Investment Research raised shares of MAG Silver from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a research report on Thursday, July 18th. Finally, HC Wainwright set a $17.00 target price on shares of MAG Silver and gave the company a “buy” rating in a research report on Tuesday, May 14th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $16.00.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Friday, May 10th. The company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01.

Several institutional investors have recently added to or reduced their stakes in MAG. Raymond James & Associates bought a new position in shares of MAG Silver during the 4th quarter valued at approximately $211,000. Two Sigma Investments LP bought a new position in MAG Silver in the 4th quarter worth approximately $306,000. Millennium Management LLC boosted its holdings in MAG Silver by 210.6% in the 4th quarter. Millennium Management LLC now owns 93,353 shares of the company’s stock worth $681,000 after buying an additional 63,298 shares during the period. Deutsche Bank AG boosted its holdings in MAG Silver by 108.7% in the 4th quarter. Deutsche Bank AG now owns 969,897 shares of the company’s stock worth $7,079,000 after buying an additional 505,110 shares during the period. Finally, Oppenheimer & Co. Inc. boosted its holdings in MAG Silver by 4.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 307,175 shares of the company’s stock worth $3,275,000 after buying an additional 12,830 shares during the period.

MAG Silver Company Profile (NYSEAMERICAN:MAG)

MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Mexico. It explores for silver, gold, lead, and zinc deposits. The company primarily holds interest in the Juanicipio property covering an area of approximately 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.

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