MAG Silver (MAG) is a small-cap precious metals company that saw a rare large trade on 2/13 as 4000 August $20 calls bought to open and follows recent buys of 4250 March $17.50 calls and 3000 May $15/$20 call spreads. MAG has gained 96% over the past year and weekly MACD recently moved into a buy signal.

MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company’s flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico.

MAG has a market cap of $1.69B and trades 20X Earnings, 9X EBITDA and 3X Book with EBITDA seen down 6.4% in 2025 after jumping sharply the last two years. MAG Silver is a high-margin silver producer focused on unlocking value from its flagship Juanicipio project, which is ramping up production and generating robust cash flows. The company is also actively exploring its other properties, Deer Trail and Larder, with the goal of making new discoveries that could further enhance shareholder value. MAG Silver’s strong partnership with Fresnillo, the operator of Juanicipio, and its prudent capital allocation strategy position the company well for continued success. MAG Silver believes there is significant exploration upside at the Juanicipio property, with the potential to discover additional mineralized structures and upwelling zones that could further expand the resource.