MAG Silver Corp (NYSE:MAG) was the recipient of a large growth in short interest in the month of July. As of July 14th, there was short interest totalling 2,124,575 shares, a growth of 1.4% from the June 30th total of 2,094,552 shares. Based on an average trading volume of 367,686 shares, the short-interest ratio is currently 5.8 days. Approximately 3.0% of the shares of the company are sold short.

Shares of MAG Silver Corp (NYSE:MAG) opened at 13.19 on Wednesday. The stock’s market cap is $1.07 billion. MAG Silver Corp has a 52 week low of $9.50 and a 52 week high of $18.12. The stock’s 50 day moving average price is $12.77 and its 200 day moving average price is $13.30.

Several equities analysts have issued reports on MAG shares. UBS AG upgraded MAG Silver Corp from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, April 5th. Zacks Investment Research cut MAG Silver Corp from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. BMO Capital Markets upgraded MAG Silver Corp from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $18.00 to $9.50 in a research report on Friday, May 26th. Finally, Raymond James Financial, Inc. upgraded MAG Silver Corp from an “outperform” rating to a “strong-buy” rating in a research report on Wednesday, April 5th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $15.25.

Several hedge funds have recently modified their holdings of MAG. Van ECK Associates Corp raised its stake in shares of MAG Silver Corp by 22.5% in the first quarter. Van ECK Associates Corp now owns 9,064,891 shares of the industrial goods maker’s stock valued at $119,022,000 after buying an additional 1,662,008 shares during the period. Sprott Inc. raised its stake in shares of MAG Silver Corp by 24.6% in the second quarter. Sprott Inc. now owns 1,233,819 shares of the industrial goods maker’s stock valued at $16,089,000 after buying an additional 243,238 shares during the period. Addenda Capital Inc. acquired a new stake in shares of MAG Silver Corp during the first quarter valued at $13,144,000. Global X Management Co. LLC raised its stake in shares of MAG Silver Corp by 15.2% in the first quarter. Global X Management Co. LLC now owns 848,894 shares of the industrial goods maker’s stock valued at $11,146,000 after buying an additional 111,754 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of MAG Silver Corp by 18.1% in the first quarter. JPMorgan Chase & Co. now owns 785,966 shares of the industrial goods maker’s stock valued at $10,319,000 after buying an additional 120,700 shares during the period.

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About MAG Silver Corp

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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