MAG Silver (NYSEAMERICAN:MAG) Trading Up 3.7%

MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report)'s share price traded up 3.7% during mid-day trading on Wednesday . The stock traded as high as $12.17 and last traded at $12.10. 116,372 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 849,175 shares. The stock had previously closed at $11.67.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Stifel Nicolaus lowered their price objective on shares of MAG Silver from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Wednesday, March 20th. StockNews.com raised shares of MAG Silver to a "sell" rating in a research report on Wednesday, March 27th. HC Wainwright lowered their price target on shares of MAG Silver from $19.50 to $16.00 and set a "buy" rating for the company in a research report on Thursday, April 4th. Finally, Scotiabank raised shares of MAG Silver from a "sector perform" rating to a "sector outperform" rating and lowered their price target for the stock from $15.00 to $13.50 in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, MAG Silver currently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

MAG Silver Trading Up 4.0 %

The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 25.96 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. As a group, research analysts expect that MAG Silver Corp. will post 0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MAG Silver

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise lifted its stake in shares of MAG Silver by 8.6% in the first quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company's stock worth $116,000 after buying an additional 876 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of MAG Silver by 7.0% in the fourth quarter. Legal & General Group Plc now owns 15,038 shares of the company's stock worth $235,000 after buying an additional 982 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of MAG Silver by 1.4% in the first quarter. CIBC Asset Management Inc now owns 80,066 shares of the company's stock worth $1,011,000 after buying an additional 1,138 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of MAG Silver by 1.0% in the second quarter. The Manufacturers Life Insurance Company now owns 127,638 shares of the company's stock worth $1,421,000 after buying an additional 1,240 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in shares of MAG Silver by 6.1% in the fourth quarter. Private Advisor Group LLC now owns 24,986 shares of the company's stock worth $260,000 after buying an additional 1,447 shares in the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.