MAG Silver Corp (NYSE:MAG) was the target of a large drop in short interest in July. As of July 31st, there was short interest totalling 1,887,791 shares, a drop of 11.1% from the July 14th total of 2,124,575 shares. Approximately 2.7% of the company’s stock are short sold. Based on an average trading volume of 253,574 shares, the days-to-cover ratio is currently 7.4 days.

Shares of MAG Silver Corp (MAG) opened at 12.81 on Thursday. The stock has a 50 day moving average price of $12.92 and a 200-day moving average price of $13.34. The firm’s market cap is $1.03 billion. MAG Silver Corp has a 52-week low of $9.50 and a 52-week high of $18.12.

Institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp increased its position in shares of MAG Silver Corp by 69.9% in the first quarter. Mackenzie Financial Corp now owns 579,200 shares of the industrial goods maker’s stock worth $7,605,000 after buying an additional 238,300 shares during the last quarter. Global X Management Co. LLC increased its position 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 worth $11,146,000 after buying an additional 111,754 shares during the last quarter. Investec Asset Management LTD increased its position in shares of MAG Silver Corp by 96.1% in the first quarter. Investec Asset Management LTD now owns 339,405 shares of the industrial goods maker’s stock worth $4,431,000 after buying an additional 166,303 shares during the last quarter. FMR LLC increased its position in shares of MAG Silver Corp by 14.0% in the first quarter. FMR LLC now owns 374,000 shares of the industrial goods maker’s stock worth $4,896,000 after buying an additional 46,000 shares during the last quarter. Finally, Van ECK Associates Corp increased its position 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 worth $119,022,000 after buying an additional 1,662,008 shares during the last quarter.

MAG has been the topic of several recent research reports. Zacks Investment Research raised MAG Silver Corp from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Wednesday, July 19th. BMO Capital Markets raised MAG Silver Corp from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $18.00 to $9.50 in a research report on Friday, May 26th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $15.25.

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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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