MAG Silver (NYSEAMERICAN:MAG) Shares Gap Down – Time to Sell?

MAG Silver Corp. (NYSEAMERICAN:MAG) shares gapped down before the market opened on Monday . The stock had previously closed at $15.49, but opened at $15.02. MAG Silver shares last traded at $15.11, with a volume of 109,903 shares.

Analyst Ratings Changes

Several analysts have recently commented on MAG shares. Roth Capital cut MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Scotiabank upped their price target on shares of MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Roth Mkm downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating and increased their price target for the company from $17.00 to $17.50 in a report on Thursday, October 24th. Finally, HC Wainwright boosted their price objective on shares of MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, MAG Silver has a consensus rating of “Hold” and an average target price of $18.38.

MAG Silver Price Performance

The stock has a market capitalization of $1.59 billion, a PE ratio of 21.30 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. As a group, research analysts forecast that MAG Silver Corp. will post 0.71 EPS for the current year.

Hedge Funds Weigh In On MAG Silver

A number of large investors have recently modified their holdings of MAG. Capital Performance Advisors LLP purchased a new stake in MAG Silver during the 3rd quarter worth $28,000. Quantbot Technologies LP acquired a new stake in shares of MAG Silver during the third quarter valued at about $52,000. Addenda Capital Inc. purchased a new stake in shares of MAG Silver during the second quarter worth about $123,000. Pekin Hardy Strauss Inc. acquired a new position in shares of MAG Silver in the third quarter worth about $140,000. Finally, DF Dent & Co. Inc. purchased a new position in MAG Silver in the third quarter valued at about $140,000. 52.50% of the stock is currently 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.