MAG Silver (NYSEAMERICAN:MAG) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) saw an uptick in trading volume on Thursday . 174,252 shares were traded during mid-day trading, a decline of 55% from the previous session’s volume of 388,404 shares.The stock last traded at $15.52 and had previously closed at $14.97.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MAG. HC Wainwright raised their price objective on shares of MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.38.

MAG Silver Trading Up 0.6 %

The firm has a market cap of $1.57 billion, a P/E ratio of 21.37 and a beta of 1.08.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Analysts predict that MAG Silver Corp. will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On MAG Silver

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its position in shares of MAG Silver by 69.1% in the third quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock worth $6,407,000 after buying an additional 186,445 shares in the last quarter. Tidal Investments LLC raised its position in MAG Silver by 3.6% during the third quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock valued at $39,453,000 after purchasing an additional 98,312 shares during the period. Barclays PLC lifted its stake in shares of MAG Silver by 211.5% in the 3rd quarter. Barclays PLC now owns 30,780 shares of the company’s stock valued at $432,000 after purchasing an additional 20,899 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of MAG Silver in the 3rd quarter worth approximately $390,000. Finally, DF Dent & Co. Inc. bought a new position in shares of MAG Silver during the 3rd quarter valued at approximately $140,000. Institutional investors own 52.50% of the company’s stock.

About MAG Silver

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.