Shares of MAG Silver Corp (NYSEAMERICAN:MAG) were up 5.3% during mid-day trading on Tuesday . The company traded as high as $11.76 and last traded at $11.74, approximately 460,000 shares changed hands during mid-day trading. An increase of 36% from the average daily volume of 338,884 shares. The stock had previously closed at $11.15.

A number of equities analysts recently issued reports on MAG shares. Zacks Investment Research raised MAG Silver from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective for the company in a report on Thursday, July 18th. HC Wainwright increased their price objective on MAG Silver from $16.50 to $18.50 and gave the stock a “buy” rating in a report on Monday, August 19th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $16.50.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01.

Several hedge funds have recently modified their holdings of the company. PenderFund Capital Management Ltd. acquired a new position in shares of MAG Silver in the 2nd quarter worth $13,833,000. Bank of Montreal Can boosted its position in shares of MAG Silver by 268.1% in the second quarter. Bank of Montreal Can now owns 1,671,131 shares of the company’s stock worth $17,614,000 after buying an additional 1,217,142 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its position in shares of MAG Silver by 98.6% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,608,390 shares of the company’s stock worth $17,145,000 after buying an additional 798,570 shares during the period. Fiera Capital Corp boosted its position in shares of MAG Silver by 883.4% in the first quarter. Fiera Capital Corp now owns 501,535 shares of the company’s stock worth $5,354,000 after buying an additional 450,535 shares during the period. Finally, ETF Managers Group LLC boosted its position in shares of MAG Silver by 134.3% in the second quarter. ETF Managers Group LLC now owns 513,409 shares of the company’s stock worth $5,474,000 after buying an additional 294,309 shares during the period.

About MAG Silver (NYSEAMERICAN:MAG)

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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