MAG Stock Summary and Trading Ideas (Mag Silver | AMEX:MAG)

MAG Silver Corp is a Canadian mining company. It is focused on advancing high-grade, district-scale precious metals projects in the Americas. The Company's principal asset is in the Juanicipio Mine located in Zacatecas, Mexico, which achieved commercial production of around 4,000 tonnes per day. The company has also Interest in the Larder project. Also, MAG has an expanded exploration program targeting multiple prospective targets at both Juanicipio and the Deer Trail 100% earn-in project in Utah. The Juanicipio Mine recognizes revenue for silver, gold, lead, and zinc from concentrate sales.

Mag Silver trades on the AMEX stock market under the symbol MAG.

As of April 25, 2024, MAG stock price climbed to $12.64 with 456,826 million shares trading.

MAG has a beta of 0.76, meaning it tends to be less sensitive to market movements. MAG has a correlation of 0.04 to the broad based SPY ETF.

MAG has a market cap of $1.30 billion. This is considered a Small Cap stock.

In the last 3 years, MAG stock traded as high as $24.13 and as low as $8.20.

The top ETF exchange traded funds that MAG belongs to (by Net Assets): GDX, GDXJ, SIL, DFIC, DFAI.

MAG stock has underperformed the market in the last year with a return of -1.9%, while SPY returned +22.7%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in MAG shares. However, MAG has outperformed the market in the last 3 month and 2 week periods, returning +36.1% and +4.5%, while SPY returned +3.3% and -2.8%, respectively. This indicates MAG has been having a stronger performance recently.

MAG support price is $11.60 and resistance is $12.54 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MAG stock will trade within this expected range on the day.