MAG Silver Corp. (NYSEAMERICAN:MAG – Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 3,090,000 shares, a growth of 5.1% from the July 31st total of 2,940,000 shares. Based on an average trading volume of 560,700 shares, the short-interest ratio is currently 5.5 days. Currently, 3.3% of the company’s stock are sold short.
MAG Silver Trading Down 1.4 %
MAG stock opened at $13.04 on Tuesday. The firm has a market capitalization of $1.35 billion, a PE ratio of 23.29 and a beta of 1.12. MAG Silver has a 12 month low of $8.19 and a 12 month high of $14.30.
MAG Silver (NYSEAMERICAN:MAG – Get Free Report) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. On average, research analysts expect that MAG Silver will post 0.67 EPS for the current fiscal year.
Institutional Trading of MAG Silver
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of MAG Silver from $20.25 to $20.50 and gave the company a “buy” rating in a research note on Wednesday, May 15th. HC Wainwright upped their target price on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Scotiabank lifted their price target on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.38.
Read Our Latest Analysis on MAG
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.
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