MAG Silver (NYSEAMERICAN:MAG) Shares Down 3.1% – Should You Sell?

MAG Silver Corp. (NYSEAMERICAN:MAG)’s share price fell 3.1% during trading on Wednesday . The stock traded as low as $16.06 and last traded at $16.09. 94,492 shares traded hands during trading, a decline of 84% from the average session volume of 584,724 shares. The stock had previously closed at $16.60.

Analyst Ratings Changes

A number of research firms recently weighed in on MAG. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target on shares of MAG Silver in a research note on Tuesday, February 25th. TD Securities raised MAG Silver to a “strong-buy” rating in a report on Monday, March 10th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.63.

MAG Silver Trading Down 4.5 %

The firm has a market cap of $1.64 billion, a P/E ratio of 22.34 and a beta of 1.09. The company has a 50-day simple moving average of $15.35.

Institutional Investors Weigh In On MAG Silver

A number of large investors have recently added to or reduced their stakes in MAG. CIBC Asset Management Inc increased its holdings in shares of MAG Silver by 0.7% in the fourth quarter. CIBC Asset Management Inc now owns 114,355 shares of the company’s stock worth $1,550,000 after buying an additional 755 shares during the period. Swiss National Bank grew its stake in shares of MAG Silver by 0.6% in the fourth quarter. Swiss National Bank now owns 193,900 shares of the company’s stock worth $2,633,000 after purchasing an additional 1,200 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of MAG Silver by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 50,088 shares of the company’s stock worth $687,000 after purchasing an additional 1,245 shares during the last quarter. Bank of America Corp DE grew its stake in shares of MAG Silver by 5.1% in the fourth quarter. Bank of America Corp DE now owns 49,779 shares of the company’s stock worth $677,000 after purchasing an additional 2,399 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of MAG Silver by 20.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 17,792 shares of the company’s stock worth $242,000 after purchasing an additional 3,029 shares during the last quarter. Hedge funds and other institutional investors own 52.50% of the company’s stock.

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.