MAG Silver (NYSEAMERICAN:MAG) Shares Up 6.1% – Should You Buy?

MAG Silver Corp. (NYSEAMERICAN:MAG) shares were up 6.1% during mid-day trading on Tuesday . The stock traded as high as $15.05 and last traded at $15.05. 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

Several research firms have commented on MAG. TD Securities raised shares of MAG Silver to a “strong-buy” rating in a research note on Monday. HC Wainwright restated a “buy” rating and issued a $21.00 target price on shares of MAG Silver in a report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.63.

MAG Silver Trading Up 0.1 %

The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 22.18 and a beta of 1.09. The firm has a fifty day simple moving average of $15.15.

Hedge Funds Weigh In On MAG Silver

Several hedge funds and other institutional investors have recently modified their holdings of MAG. PKO Investment Management Joint Stock Co purchased a new stake in shares of MAG Silver in the fourth quarter worth about $651,000. Integrated Advisors Network LLC boosted its stake 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 buying an additional 17,100 shares during the period. Two Sigma Investments LP purchased a new position in MAG Silver in the 4th quarter worth about $401,000. Millennium Management LLC raised its stake 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 acquiring an additional 860,326 shares in the last quarter. Finally, Eschler Asset Management LLP boosted its holdings 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 purchasing an additional 25,000 shares during the period. 52.50% of the stock is owned by institutional investors.

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.