MAG Silver (NYSEAMERICAN:MAG) Shares Up 3.7%

MAG Silver Corp. (NYSEAMERICAN:MAG) shares shot up 3.7% on Wednesday . The stock traded as high as $12.17 and last traded at $12.10. 116,372 shares traded hands during trading, a decline of 86% from the average session volume of 849,175 shares. The stock had previously closed at $11.67.

Analyst Upgrades and Downgrades

MAG has been the subject of a number of research reports. Scotiabank raised shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and dropped their target price for the stock from $15.00 to $13.50 in a report on Thursday, March 28th. Stifel Nicolaus dropped their target price on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, March 20th. StockNews.com raised shares of MAG Silver to a “sell” rating in a report on Wednesday, March 27th. Finally, HC Wainwright dropped their target price on shares of MAG Silver from $19.50 to $16.00 and set a “buy” rating for the company in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

MAG Silver Price Performance

The firm has a market capitalization of $1.25 billion, a PE ratio of 25.25 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last issued its earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. On average, equities analysts expect that MAG Silver Corp. will post 0.47 EPS for the current year.

Hedge Funds Weigh In On MAG Silver

Several large investors have recently bought and sold shares of MAG. Van ECK Associates Corp raised its stake in shares of MAG Silver by 4.4% during the 3rd quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock worth $101,069,000 after purchasing an additional 406,335 shares during the period. Quadrature Capital Ltd bought a new stake in shares of MAG Silver during the 3rd quarter worth $127,000. Oppenheimer & Co. Inc. raised its stake in shares of MAG Silver by 1.9% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company’s stock worth $3,745,000 after purchasing an additional 6,895 shares during the period. Invesco Ltd. raised its stake in shares of MAG Silver by 8.8% during the 3rd quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock worth $15,202,000 after purchasing an additional 118,211 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of MAG Silver by 11.7% during the 3rd quarter. Toronto Dominion Bank now owns 49,634 shares of the company’s stock worth $515,000 after purchasing an additional 5,206 shares during the period. 52.50% of the stock is currently owned by institutional investors.

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.