MAG Silver (NYSEAMERICAN:MAG) Stock Price Down 2.4%

MAG Silver Corp. (NYSEAMERICAN:MAG)’s stock price fell 2.4% on Friday . The stock traded as low as $14.89 and last traded at $14.89. 114,298 shares changed hands during trading, a decline of 84% from the average session volume of 719,131 shares. The stock had previously closed at $15.26.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Scotiabank increased their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. HC Wainwright increased their price target on shares of MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $18.00.

MAG Silver Stock Down 3.1 %

The company has a market capitalization of $1.53 billion, a PE ratio of 27.28 and a beta of 1.14.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. As a group, equities research analysts expect that MAG Silver Corp. will post 0.68 EPS for the current fiscal year.

Hedge Funds Weigh In On MAG Silver

Several institutional investors have recently bought and sold shares of MAG. Perritt Capital Management Inc. acquired a new position in shares of MAG Silver during the first quarter worth approximately $26,000. Addenda Capital Inc. bought a new position in MAG Silver in the 2nd quarter valued at $123,000. Banque Cantonale Vaudoise increased its stake in shares of MAG Silver by 8.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock valued at $116,000 after buying an additional 876 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of MAG Silver during the second quarter worth $161,000. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of MAG Silver by 304.8% during the second quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock valued at $299,000 after acquiring an additional 19,253 shares during the period. Institutional investors own 52.50% of the company’s stock.

MAG Silver Company Profile

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.