MAG Silver Corp. (NYSEAMERICAN:MAG – Get Free Report)’s share price gapped down before the market opened on Friday . The stock had previously closed at $13.40, but opened at $12.94. MAG Silver shares last traded at $13.16, with a volume of 76,060 shares.
Analyst Ratings Changes
Several research analysts have issued reports on MAG shares. Scotiabank increased their price objective on MAG Silver from $13.50 to $14.50 and gave the stock a “sector outperform” rating in a research report on Thursday, May 23rd. Stifel Nicolaus increased their price objective on MAG Silver from $20.25 to $20.50 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Ventum Cap Mkts cut MAG Silver from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. StockNews.com upgraded MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $17.00 price objective on shares of MAG Silver in a research report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MAG Silver has an average rating of “Moderate Buy” and an average price target of $18.88.
MAG Silver Price Performance
The company has a market capitalization of $1.36 billion, a PE ratio of 23.55 and a beta of 1.12.
MAG Silver (NYSEAMERICAN:MAG – Get Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.04. On average, sell-side analysts anticipate that MAG Silver Corp. will post 0.58 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Oppenheimer & Co. Inc. grew its holdings in MAG Silver by 23.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 455,150 shares of the company’s stock valued at $4,815,000 after buying an additional 86,440 shares during the last quarter. Azarias Capital Management L.P. lifted its position in shares of MAG Silver by 73.7% in the 1st quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock worth $14,866,000 after acquiring an additional 596,283 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of MAG Silver by 6.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock worth $665,000 after acquiring an additional 3,950 shares during the period. CIBC Asset Management Inc lifted its position in shares of MAG Silver by 3.0% in the 4th quarter. CIBC Asset Management Inc now owns 90,881 shares of the company’s stock worth $949,000 after acquiring an additional 2,652 shares during the period. Finally, National Bank of Canada FI lifted its position in shares of MAG Silver by 5.9% in the 4th quarter. National Bank of Canada FI now owns 240,600 shares of the company’s stock worth $2,477,000 after acquiring an additional 13,348 shares during the period. 52.50% of the stock is owned by institutional investors and hedge funds.
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.
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