MAG Silver (NYSEAMERICAN:MAG) Trading Up 6.3%

MAG Silver Corp. (NYSEAMERICAN:MAG) traded up 6.3% on Thursday . The stock traded as high as $10.56 and last traded at $10.50. 1,187,095 shares were traded during trading, an increase of 71% from the average session volume of 694,653 shares. The stock had previously closed at $9.88.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. StockNews.com raised MAG Silver to a “sell” rating in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $18.50 target price (down previously from $19.50) on shares of MAG Silver in a research note on Wednesday, March 20th. Stifel Nicolaus cut their target price on MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, March 20th. Finally, Scotiabank raised MAG Silver from a “sector perform” rating to a “sector outperform” rating and set a $13.50 target price on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.63.

MAG Silver Stock Up 7.3 %

The firm has a market cap of $1.09 billion, a PE ratio of 21.09 and a beta of 1.13.

MAG Silver (NYSEAMERICAN:MAG) last posted its earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. As a group, analysts expect that MAG Silver Corp. will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MAG Silver

Hedge funds have recently made changes to their positions in the company. Natixis acquired a new position in shares of MAG Silver in the 4th quarter valued at $34,000. Geneos Wealth Management Inc. increased its position in shares of MAG Silver by 89.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company’s stock valued at $54,000 after acquiring an additional 1,600 shares during the period. Deutsche Bank AG acquired a new position in shares of MAG Silver in the 4th quarter valued at $55,000. BNP Paribas Financial Markets acquired a new stake in MAG Silver during the 4th quarter worth about $61,000. Finally, Chilton Capital Management LLC acquired a new stake in MAG Silver during the 1st quarter worth about $78,000. 52.50% of the stock is owned by institutional investors and hedge funds.

MAG Silver Company Profile

MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.