MAG Silver (NYSEAMERICAN:MAG) Sets New 12-Month High – Here’s Why

MAG Silver Corp. (NYSEAMERICAN:MAG)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $16.08 and last traded at $16.06, with a volume of 10910 shares traded. The stock had previously closed at $15.74.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. HC Wainwright boosted their price target on MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Scotiabank lifted their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $18.00.

MAG Silver Price Performance

The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 27.16 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. Analysts forecast that MAG Silver Corp. will post 0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Perritt Capital Management Inc. purchased a new position in shares of MAG Silver during the first quarter valued at approximately $26,000. Banque Cantonale Vaudoise increased its holdings in MAG Silver by 8.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock worth $116,000 after buying an additional 876 shares during the period. Addenda Capital Inc. purchased a new position in MAG Silver during the 2nd quarter worth approximately $123,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of MAG Silver in the 2nd quarter valued at $161,000. Finally, Privium Fund Management B.V. increased its stake in shares of MAG Silver by 71.9% in the first quarter. Privium Fund Management B.V. now owns 26,300 shares of the company’s stock worth $278,000 after acquiring an additional 11,000 shares during the period. 52.50% of the stock is owned by hedge funds and other 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.