MAG Silver (NYSEAMERICAN:MAG) Sees Unusually-High Trading Volume

MAG Silver Corp. (NYSEAMERICAN:MAG) saw unusually-high trading volume on Wednesday . Approximately 384,803 shares changed hands during mid-day trading, a decline of 42% from the previous session’s volume of 659,196 shares.The stock last traded at $9.46 and had previously closed at $9.01.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. StockNews.com upgraded shares of MAG Silver to a “sell” rating in a research report on Wednesday. Stifel Nicolaus decreased their price objective on MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 20th. HC Wainwright restated a “buy” rating and set a $18.50 target price (down from $19.50) on shares of MAG Silver in a report on Wednesday, March 20th. Finally, Scotiabank upgraded MAG Silver from a “sector perform” rating to a “sector outperform” rating and set a $13.50 price objective for the company in a research report on Thursday. One equities research 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 presently has a consensus rating of “Moderate Buy” and an average price target of $18.63.

MAG Silver Stock Performance

The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 21.02 and a beta of 1.13.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings data on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. On average, analysts expect that MAG Silver Corp. will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On MAG Silver

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

About MAG Silver

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.