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

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

MAG Silver Trading Down 2.4 %

Shares of MAG traded down $0.36 on Friday, reaching $14.94. 489,823 shares of the stock traded hands, compared to its average volume of 713,786. The stock has a market cap of $1.54 billion, a PE ratio of 21.04 and a beta of 1.07. MAG Silver has a 12 month low of $8.19 and a 12 month high of $18.27.

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

Hedge Funds Weigh In On MAG Silver

Several hedge funds and other institutional investors have recently modified their holdings of MAG. Mackenzie Financial Corp increased its holdings in MAG Silver by 310.5% during the 2nd quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock valued at $2,224,000 after purchasing an additional 144,007 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of MAG Silver by 4.8% in the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after buying an additional 467,817 shares in the last quarter. PCJ Investment Counsel Ltd. raised its holdings in shares of MAG Silver by 38.1% in the third quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock valued at $5,196,000 after buying an additional 101,870 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in MAG Silver by 199.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after buying an additional 254,553 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in MAG Silver by 304.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock worth $299,000 after acquiring an additional 19,253 shares during the last quarter. Institutional investors own 52.50% of the company’s stock.

Analyst Ratings Changes

MAG has been the subject of several recent analyst reports. Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. HC Wainwright raised their price target on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Scotiabank boosted their price objective on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and upped their price target for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.38.

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.