MAG Silver Sees Unusually High Options Volume (NYSEAMERICAN:MAG)

MAG Silver Corp (NYSEAMERICAN:MAG) was the target of unusually large options trading activity on Tuesday. Stock investors bought 2,979 call options on the company. This is an increase of 180% compared to the typical daily volume of 1,063 call options.

Several large investors have recently bought and sold shares of MAG. Van ECK Associates Corp increased its holdings in MAG Silver by 3.4% in the fourth quarter. Van ECK Associates Corp now owns 3,627,191 shares of the company’s stock valued at $42,946,000 after buying an additional 118,684 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in MAG Silver by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 995,591 shares of the company’s stock valued at $7,646,000 after buying an additional 22,293 shares in the last quarter. Fiera Capital Corp increased its holdings in MAG Silver by 10.8% in the first quarter. Fiera Capital Corp now owns 935,706 shares of the company’s stock valued at $7,163,000 after buying an additional 91,064 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in MAG Silver by 21.4% in the fourth quarter. Great West Life Assurance Co. Can now owns 886,950 shares of the company’s stock valued at $10,386,000 after buying an additional 156,238 shares in the last quarter. Finally, FMR LLC increased its holdings in MAG Silver by 19.7% in the first quarter. FMR LLC now owns 728,901 shares of the company’s stock valued at $7,783,000 after buying an additional 120,000 shares in the last quarter.

MAG traded up $0.51 during trading on Tuesday, hitting $13.96. The stock had a trading volume of 29,394 shares, compared to its average volume of 698,664. MAG Silver has a twelve month low of $3.84 and a twelve month high of $14.00. The stock has a 50 day simple moving average of $11.08 and a two-hundred day simple moving average of $10.27.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.17) EPS for the quarter.

Several equities analysts recently issued reports on the stock. HC Wainwright reissued a “buy” rating and set a $16.50 price objective on shares of MAG Silver in a report on Monday, May 18th. BidaskClub raised shares of MAG Silver from a “sell” rating to a “hold” rating in a report on Wednesday, April 15th. Zacks Investment Research lowered shares of MAG Silver from a “hold” rating to a “sell” rating in a report on Tuesday, May 19th. Canaccord Genuity reissued a “buy” rating and set a $21.25 price objective on shares of MAG Silver in a report on Wednesday, April 15th. Finally, BMO Capital Markets lifted their price objective on shares of MAG Silver from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. MAG Silver currently has a consensus rating of “Hold” and an average target price of $16.69.

About MAG Silver

MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Mexico. It explores for silver, gold, lead, and zinc deposits. The company primarily holds interest in the Juanicipio property covering an area of approximately 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.

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