MAG Silver Corp Short Interest Up 28.3% in May (MVG)
Shares of MAG Silver Corp (NYSE:MVG) were the target of a large growth in short interest in the month of May. As of May 30th, there was short interest totalling 394,735 shares, a growth of 28.3% from the May 15th total of 307,643 shares, AnalystRatings.Net reports. Currently, 0.8% of the shares of the company are short sold. Based on an average daily trading volume, of 41,516 shares, the short-interest ratio is presently 9.5 days.
A number of analysts have recently weighed in on MVG shares. Analysts at Raymond James raised their price target on shares of MAG Silver Corp from C$11.00 to C$12.00 in a research note on Wednesday, May 28th. They now have an “outperform” rating on the stock. Separately, analysts at Pi Financial cut their price target on shares of MAG Silver Corp from C$10.25 to C$10.00 in a research note on Wednesday, May 28th. They now have a “buy” rating on the stock. Finally, analysts at National Bank Financial initiated coverage on shares of MAG Silver Corp in a research note on Thursday, May 22nd. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. MAG Silver Corp has an average rating of “Buy” and an average target price of $10.03.
Shares of MAG Silver Corp (NYSE:MVG) traded up 0.62% during mid-day trading on Tuesday, hitting $8.14. 32,636 shares of the company’s stock traded hands. MAG Silver Corp has a one year low of $4.87 and a one year high of $8.99. The stock has a 50-day moving average of $7.30 and a 200-day moving average of $6.82. The company’s market cap is $490.7 million.
MAG Silver Corp (NYSE:MVG) last announced its earnings results on Wednesday, April 2nd. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by $0.09. Analysts expect that MAG Silver Corp will post $-0.17 EPS for the current fiscal year.
MAG Silver Corp. is focused on advancing two projects located within the Mexican Silver Belt. Currently, it is in pre-development on the high grade Valdecanas Silver vein and delineating the Desprendido and Juanicipio discoveries in Zacatecas State, all within the joint venture between MAG Silver (NYSE:MVG) and Fresnillo PLC (56%).
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