MAG Silver Corp (MAG) Short Interest Down 34.1% in June
MAG Silver Corp (NYSE:MAG) was the target of a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 2,094,552 shares, a decrease of 34.1% from the June 15th total of 3,179,194 shares. Currently, 3.0% of the company’s stock are sold short. Based on an average trading volume of 689,061 shares, the days-to-cover ratio is presently 3.0 days.
Hedge funds have recently made changes to their positions in the company. A.R.T. Advisors LLC bought a new stake in shares of MAG Silver Corp during the fourth quarter valued at approximately $114,000. UBS Asset Management Americas Inc. bought a new stake in shares of MAG Silver Corp during the fourth quarter valued at approximately $164,000. Goldman Sachs Group Inc. bought a new stake in shares of MAG Silver Corp during the first quarter valued at approximately $242,000. Quadrature Capital Ltd bought a new stake in shares of MAG Silver Corp during the fourth quarter valued at approximately $293,000. Finally, Highbridge Capital Management LLC bought a new stake in shares of MAG Silver Corp during the first quarter valued at approximately $309,000.
Shares of MAG Silver Corp (NYSE:MAG) opened at 12.62 on Thursday. The company has a 50 day moving average of $12.32 and a 200-day moving average of $13.04. The firm’s market cap is $1.02 billion. MAG Silver Corp has a one year low of $9.50 and a one year high of $18.12.
Several equities analysts have commented on the stock. BMO Capital Markets raised shares of MAG Silver Corp from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $18.00 to $9.50 in a research report on Friday, May 26th. Raymond James Financial, Inc. raised MAG Silver Corp from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, April 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $15.00.
MAG Silver Corp Company Profile
MAG Silver Corp. is a mineral exploration and development company. The Company is focused on the acquisition, exploration and development of projects located within the Mexican silver belt. The Company operates through the exploration of mineral properties in Mexico segment. The Company’s projects include Juanicipio Property, Cinco De Mayo Property and Guigui Property.
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