MAG Silver Corp. (NYSEAMERICAN:MAG) Short Interest Update

MAG Silver Corp. (NYSEAMERICAN:MAG) was the recipient of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 2,370,000 shares, a decline of 22.0% from the November 15th total of 3,040,000 shares. Based on an average daily volume of 700,800 shares, the short-interest ratio is presently 3.4 days. Currently, 2.6% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MAG. Capital Performance Advisors LLP acquired a new position in shares of MAG Silver during the 3rd quarter valued at about $28,000. Quantbot Technologies LP acquired a new position in MAG Silver in the 3rd quarter valued at about $52,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of MAG Silver in the 3rd quarter valued at approximately $140,000. DF Dent & Co. Inc. acquired a new stake in shares of MAG Silver during the 3rd quarter worth approximately $140,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of MAG Silver during the 3rd quarter worth approximately $148,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

MAG Silver Stock Performance

MAG stock traded down $0.11 during midday trading on Monday, reaching $14.83. The stock had a trading volume of 507,827 shares, compared to its average volume of 712,939. MAG Silver has a 52-week low of $8.19 and a 52-week high of $18.27. The firm has a market capitalization of $1.53 billion, a P/E ratio of 20.89 and a beta of 1.07.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. On average, equities analysts forecast that MAG Silver will post 0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Roth Mkm downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. Roth Capital cut MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Scotiabank upped their target price on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Finally, HC Wainwright increased their target price on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $18.38.

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.