MAG Silver (NYSEAMERICAN:MAG) Shares Down 5.2%

Shares of MAG Silver Corp (NYSEAMERICAN:MAG) traded down 5.2% during mid-day trading on Tuesday . The stock traded as low as $11.74 and last traded at $11.79, 603,279 shares traded hands during mid-day trading. An increase of 93% from the average session volume of 312,232 shares. The stock had previously closed at $12.44.

Several equities analysts recently weighed in on the company. HC Wainwright set a $17.00 price target on MAG Silver and gave the company a “buy” rating in a research note on Tuesday, May 14th. Zacks Investment Research upgraded MAG Silver from a “hold” rating to a “strong-buy” rating and set a $12.00 price target for the company in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $16.00.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MAG. FIL Ltd acquired a new position in MAG Silver in the first quarter valued at approximately $32,000. Confluence Investment Management LLC acquired a new position in MAG Silver in the second quarter valued at approximately $146,000. Raymond James & Associates acquired a new position in MAG Silver in the fourth quarter valued at approximately $211,000. Capital Wealth Planning LLC acquired a new position in MAG Silver in the second quarter valued at approximately $211,000. Finally, Signition LP lifted its holdings in MAG Silver by 66.0% in the second quarter. Signition LP now owns 31,700 shares of the company’s stock valued at $334,000 after acquiring an additional 12,600 shares during the last quarter.

MAG Silver Company Profile (NYSEAMERICAN:MAG)

MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Mexico. It explores for silver, gold, lead, and zinc deposits. The company primarily holds interest in the Juanicipio property covering an area of approximately 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.

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