MAG Silver Corp (MAG) Short Interest Up 4.8% in September
MAG Silver Corp (NYSE:MAG) was the target of a significant increase in short interest in September. As of September 29th, there was short interest totalling 1,964,977 shares, an increase of 4.8% from the September 15th total of 1,874,612 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 267,319 shares, the days-to-cover ratio is currently 7.4 days.
MAG Silver Corp (MAG) opened at 11.68 on Friday. The company’s market capitalization is $943.70 million. MAG Silver Corp has a 12-month low of $9.50 and a 12-month high of $16.78. The company’s 50 day moving average price is $12.06 and its 200-day moving average price is $12.50.
A number of institutional investors and hedge funds have recently modified their holdings of MAG. UBS Asset Management Americas Inc. increased its holdings in MAG Silver Corp by 50.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 22,359 shares of the industrial goods maker’s stock worth $292,000 after purchasing an additional 7,500 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in MAG Silver Corp by 18.1% during the 1st quarter. JPMorgan Chase & Co. now owns 785,966 shares of the industrial goods maker’s stock worth $10,319,000 after purchasing an additional 120,700 shares in the last quarter. Credit Agricole S A increased its holdings in MAG Silver Corp by 22.4% during the 1st quarter. Credit Agricole S A now owns 242,400 shares of the industrial goods maker’s stock worth $3,183,000 after purchasing an additional 44,400 shares in the last quarter. FMR LLC increased its holdings in MAG Silver Corp by 14.0% during the 1st quarter. FMR LLC now owns 374,000 shares of the industrial goods maker’s stock worth $4,896,000 after purchasing an additional 46,000 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in MAG Silver Corp by 69.9% during the 1st quarter. Mackenzie Financial Corp now owns 579,200 shares of the industrial goods maker’s stock worth $7,605,000 after purchasing an additional 238,300 shares in the last quarter.
MAG has been the subject of a number of research reports. Zacks Investment Research upgraded MAG Silver Corp from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Wednesday, July 19th. Roth Capital set a $22.00 price objective on MAG Silver Corp and gave the stock a “buy” rating in a report on Monday, August 21st. Five investment analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $16.50.
TRADEMARK VIOLATION NOTICE: This piece of content was published by Watch List News and is the property of of Watch List News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.watchlistnews.com/mag-silver-corp-mag-short-interest-up-4-8-in-september/1631404.html.
About MAG Silver Corp
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.
Receive News & Ratings for MAG Silver Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MAG Silver Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.