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Why MAG Silver Corp. (AMEX: MAG) Is A Great Stock Pick For Momentum Investors

MAG Silver Corp. (AMEX:MAG) shares, rose in value on Friday, 05/13/22, with the stock price up by 7.15% to the previous day’s close as strong demand from buyers drove the stock to $13.34.

Actively observing the price movement in the last trading, the stock closed the session at $12.45, falling within a range of $12.12 and $13.57. The value of beta (5-year monthly) was 1.10 whereas the PE ratio was 218.69 over 12-month period. Referring to stock’s 52-week performance, its high was $24.13, and the low was $12.05. On the whole, MAG has fluctuated by -25.93% over the past month.

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With the market capitalization of MAG Silver Corp. currently standing at about $1.33 billion, investors are eagerly awaiting this quarter’s results, scheduled for Mar 29, 2022 – Apr 04, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.02, which is expected to increase to $0.24 for fiscal year -$0.01 and then to about $1.04 by fiscal year 2022.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MAG’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MAG currently trading nearly -11.43% and -17.98% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 39.04, while the 7-day volatility ratio is showing 8.38% which for the 30-day chart, stands at 5.86%. Furthermore, MAG Silver Corp. (MAG)’s beta value is 1.07, and its average true range (ATR) is 0.94. The company’s stock has been forecasted to trade at an average price of $20.58 over the course of the next 52 weeks, with a low of $16.70 and a high of $24.20. Based on these price targets, the low is -25.19% off current price, whereas the price has to move -81.41% to reach the yearly target high. Additionally, analysts’ median price of $20.71 is likely to be welcomed by investors because it represents a decrease of -55.25% from the current levels.

A comparison of MAG Silver Corp. (MAG) with its peers suggests the former has fared considerably weaker in the market. MAG showed an intraday change of 7.15% in last session, and over the past year, it shrunk by -30.63%%. In comparison, Alexco Resource Corp. (AXU) has moved higher at 5.50% on the day and was down -70.59% over the past 12 months. On the other hand, the price of Hecla Mining Company (HL) has risen 8.33% on the day. The stock, however, is off -39.64% from where it was a year ago. Additionally, there is a gain of 9.96% for First Majestic Silver Corp. (AG) in last trading while the stock has seen an overall depriciation of -48.94%% over the past year. The PE ratio stands at 218.69 for MAG Silver Corp., and 71.09 for Hecla Mining Company. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 2.39%. Meanwhile, the Dow Jones Industrial Improved by 1.47%.

Data on historical trading for MAG Silver Corp. (AMEX:MAG) indicates that the trading volumes over the past 3 months, they’ve averaged 529.98K. According to company’s latest data on outstanding shares, there are 96.01 million shares outstanding.

Nearly 21.80% of MAG Silver Corp.’s shares belong to company insiders and institutional investors own 43.40% of the company’s shares. The stock has fallen by -14.87% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MAG stock heading into the next quarter.

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