MAG Silver (NYSEAMERICAN:MAG) Shares Up 6.1% – What’s Next?

MAG Silver Corp. (NYSEAMERICAN:MAG) rose 6.1% during trading on Tuesday . The stock traded as high as $15.05 and last traded at $15.05. Approximately 60,379 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 570,871 shares. The stock had previously closed at $14.18.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reiterated a “buy” rating and issued a $21.00 price target on shares of MAG Silver in a research report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, MAG Silver presently has a consensus rating of “Hold” and a consensus target price of $18.63.

MAG Silver Stock Performance

The firm has a 50 day simple moving average of $15.09. The firm has a market cap of $1.54 billion, a P/E ratio of 20.94 and a beta of 1.09.

Institutional Investors Weigh In On MAG Silver

A number of hedge funds have recently bought and sold shares of the company. Integrated Advisors Network LLC increased its position in MAG Silver by 38.7% during the fourth quarter. Integrated Advisors Network LLC now owns 61,250 shares of the company’s stock worth $833,000 after acquiring an additional 17,100 shares during the period. Two Sigma Investments LP acquired a new stake in MAG Silver in the 4th quarter worth $401,000. Millennium Management LLC raised its position in shares of MAG Silver by 3,324.7% during the fourth quarter. Millennium Management LLC now owns 886,203 shares of the company’s stock valued at $12,052,000 after buying an additional 860,326 shares during the last quarter. Eschler Asset Management LLP lifted its stake in shares of MAG Silver by 83.3% in the fourth quarter. Eschler Asset Management LLP now owns 55,000 shares of the company’s stock valued at $748,000 after buying an additional 25,000 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new stake in MAG Silver during the fourth quarter worth about $156,000. 52.50% of the stock is currently owned by institutional investors.

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.