MAG Silver Corp (NYSE:MAG) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totalling 1,887,791 shares, a decline of 11.1% from the July 14th total of 2,124,575 shares. Based on an average daily volume of 253,574 shares, the short-interest ratio is presently 7.4 days. Currently, 2.7% of the company’s stock are short sold.

Several large investors have recently added to or reduced their stakes in MAG. Van ECK Associates Corp increased its stake in MAG Silver Corp by 22.5% in the first quarter. Van ECK Associates Corp now owns 9,064,891 shares of the industrial goods maker’s stock valued at $119,022,000 after buying an additional 1,662,008 shares during the last quarter. Sprott Inc. increased its stake in MAG Silver Corp by 24.6% in the second quarter. Sprott Inc. now owns 1,233,819 shares of the industrial goods maker’s stock valued at $16,089,000 after buying an additional 243,238 shares during the last quarter. Addenda Capital Inc. increased its stake in MAG Silver Corp by 4.4% in the second quarter. Addenda Capital Inc. now owns 1,051,260 shares of the industrial goods maker’s stock valued at $13,704,000 after buying an additional 44,355 shares during the last quarter. JPMorgan Chase & Co. increased its stake in MAG Silver Corp by 17.8% in the second quarter. JPMorgan Chase & Co. now owns 925,506 shares of the industrial goods maker’s stock valued at $12,069,000 after buying an additional 139,540 shares during the last quarter. Finally, Global X Management Co. LLC increased its stake in MAG Silver Corp by 15.2% in the first quarter. Global X Management Co. LLC now owns 848,894 shares of the industrial goods maker’s stock valued at $11,146,000 after buying an additional 111,754 shares during the last quarter.

A number of brokerages recently commented on MAG. Zacks Investment Research downgraded shares of MAG Silver Corp from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. BMO Capital Markets upgraded shares of MAG Silver Corp from a “market perform” rating to an “outperform” rating and lowered their target price for the stock from $18.00 to $9.50 in a research note on Friday, May 26th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $15.25.

MAG Silver Corp (MAG) opened at 12.81 on Thursday. The firm’s market cap is $1.03 billion. MAG Silver Corp has a 1-year low of $9.50 and a 1-year high of $18.12. The firm has a 50-day moving average of $12.96 and a 200 day moving average of $13.32.

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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.

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