MAG Silver Corporation (NYSEAMERICAN:MAG - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $23.15, but opened at $22.33. MAG Silver shares last traded at $22.96, with a volume of 204,768 shares traded.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. Canaccord Genuity Group downgraded MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Roth Capital reiterated a "neutral" rating and set a $23.00 target price (up from $22.00) on shares of MAG Silver in a report on Tuesday. TD Securities lowered MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Scotiabank restated an "outperform" rating on shares of MAG Silver in a research note on Tuesday. Finally, HC Wainwright reiterated a "neutral" rating and issued a $22.00 target price on shares of MAG Silver in a research report on Thursday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $21.00.
Check Out Our Latest Stock Analysis on MAG
MAG Silver Trading Down 0.5%
The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 23.09 and a beta of 0.69. The stock has a fifty day moving average of $21.54 and a 200-day moving average of $17.68.
Hedge Funds Weigh In On MAG Silver
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in MAG Silver by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 50,088 shares of the company's stock worth $687,000 after acquiring an additional 1,245 shares during the last quarter. Raymond James Financial Inc. bought a new position in MAG Silver during the 4th quarter worth about $3,482,000. Marshall Wace LLP bought a new position in shares of MAG Silver in the 4th quarter valued at about $274,000. Tradition Wealth Management LLC bought a new position in shares of MAG Silver in the 4th quarter valued at about $222,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in MAG Silver in the 4th quarter valued at about $188,000. 52.50% of the stock is currently owned by institutional investors.
MAG Silver Company Profile
(
Get Free Report)
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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