MAG Silver (NYSEAMERICAN:MAG) Stock Price Down 1.2% – Time to Sell?

MAG Silver Corporation (NYSEAMERICAN:MAG)’s stock price was down 1.2% during mid-day trading on Wednesday . The stock traded as low as $24.35 and last traded at $24.47. Approximately 2,177,252 shares were traded during trading, an increase of 14% from the average daily volume of 1,906,338 shares. The stock had previously closed at $24.76.

MAG Silver Price Performance

The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 24.72 and a beta of 0.73. The firm has a fifty day simple moving average of $24.47 and a two-hundred day simple moving average of $23.94.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of MAG Silver by 19.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,929,391 shares of the company’s stock worth $62,109,000 after buying an additional 473,671 shares during the period. Balyasny Asset Management L.P. purchased a new position in MAG Silver in the 2nd quarter worth $57,534,000. Alpine Associates Management Inc. acquired a new stake in MAG Silver during the 2nd quarter worth about $53,779,000. AQR Arbitrage LLC purchased a new stake in MAG Silver during the 2nd quarter valued at about $30,553,000. Finally, Qube Research & Technologies Ltd grew its stake in MAG Silver by 924.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,293,358 shares of the company’s stock valued at $27,329,000 after purchasing an additional 1,167,136 shares during the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

About MAG Silver

MAG Silver Corp is a Vancouver-based exploration company specializing in high-grade silver properties in the Americas. The company’s primary focus is on the discovery, acquisition and development of silver and related base-metal projects with the potential for large-scale, high-grade mineralization.

Its flagship project is the Juanicipio joint venture in the Fresnillo silver district of Zacatecas, Mexico, where MAG holds a 44% interest alongside Fresnillo plc. Juanicipio hosts multiple high-grade silver-lead-zinc veins and is progressing through detailed infill drilling, feasibility studies and permitting phases toward production.

In addition to Juanicipio, MAG Silver holds exploration interests in the Cinco de Mayo district in Zacatecas and the Deer Trail property in Nevada.