MAG Silver (NYSEAMERICAN:MAG) Shares Gap Down to $12.85

MAG Silver Corp. (NYSEAMERICAN:MAG)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $12.85, but opened at $12.28. MAG Silver shares last traded at $12.51, with a volume of 167,408 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Stifel Nicolaus lowered their price objective on MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, March 20th. HC Wainwright lifted their target price on MAG Silver from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, April 25th. StockNews.com upgraded MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. Finally, Scotiabank raised MAG Silver from a “sector perform” rating to a “sector outperform” rating and dropped their target price for the stock from $15.00 to $13.50 in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.25.

MAG Silver Trading Down 2.7 %

The stock has a market capitalization of $1.29 billion, a P/E ratio of 26.57 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. As a group, equities research analysts anticipate that MAG Silver Corp. will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MAG. Banque Cantonale Vaudoise increased its holdings in shares of MAG Silver by 8.6% in the first quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock valued at $116,000 after purchasing an additional 876 shares in the last quarter. Crown Wealth Group LLC acquired a new stake in MAG Silver during the 4th quarter worth $118,000. Quadrature Capital Ltd acquired a new stake in MAG Silver during the 3rd quarter worth $127,000. Privium Fund Management B.V. grew its holdings in MAG Silver by 44.9% during the 3rd quarter. Privium Fund Management B.V. now owns 15,500 shares of the company’s stock worth $161,000 after acquiring an additional 4,800 shares during the period. Finally, Veracity Capital LLC grew its holdings in MAG Silver by 50.0% during the 4th quarter. Veracity Capital LLC now owns 16,654 shares of the company’s stock worth $173,000 after acquiring an additional 5,551 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.