MAG Silver Corp (MAG) Short Interest Down 18.2% in December
MAG Silver Corp (NYSEAMERICAN:MAG) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 2,672,333 shares, a decrease of 18.2% from the December 14th total of 3,265,596 shares. Based on an average daily volume of 479,349 shares, the short-interest ratio is presently 5.6 days.
A number of brokerages recently weighed in on MAG. Zacks Investment Research raised shares of MAG Silver from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Wednesday. BMO Capital Markets reaffirmed a “buy” rating on shares of MAG Silver in a research note on Monday, December 17th. Finally, HC Wainwright set a $19.00 target price on shares of MAG Silver and gave the stock a “buy” rating in a research note on Monday, October 22nd.
Shares of NYSEAMERICAN MAG opened at $8.30 on Friday. MAG Silver has a 1-year low of $6.12 and a 1-year high of $12.37.
Several institutional investors have recently bought and sold shares of MAG. First Eagle Investment Management LLC boosted its stake in shares of MAG Silver by 15.5% during the 3rd quarter. First Eagle Investment Management LLC now owns 2,310,367 shares of the company’s stock worth $18,686,000 after buying an additional 310,900 shares during the last quarter. Morgan Stanley boosted its stake in shares of MAG Silver by 27.4% during the 3rd quarter. Morgan Stanley now owns 1,032,939 shares of the company’s stock worth $8,378,000 after buying an additional 222,110 shares during the last quarter. Millennium Management LLC acquired a new position in shares of MAG Silver during the 2nd quarter worth about $1,425,000. Shepherd Kaplan Krochuk LLC boosted its stake in shares of MAG Silver by 173.2% during the 3rd quarter. Shepherd Kaplan Krochuk LLC now owns 193,863 shares of the company’s stock worth $1,572,000 after buying an additional 122,895 shares during the last quarter. Finally, Global X Management Co LLC boosted its stake in shares of MAG Silver by 12.0% during the 2nd quarter. Global X Management Co LLC now owns 1,139,617 shares of the company’s stock worth $12,302,000 after buying an additional 122,338 shares during the last quarter.
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MAG Silver Company Profile
MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Canada. It explores for copper, gold, silver, lead, and zinc deposits. The company primarily holds interests in the Juanicipio property covering 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.
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