MAG Silver Corp. (NYSEAMERICAN:MAG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have been given an average rating of “Moderate Buy” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $17.88.

Several equities research analysts have recently issued reports on the stock. Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Scotiabank increased their price target on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. Finally, HC Wainwright upped their price objective on shares of MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, August 5th.

MAG Silver Stock Down 2.0 %

NYSEAMERICAN MAG opened at $16.75 on Monday. MAG Silver has a 12 month low of $8.19 and a 12 month high of $18.27. The firm has a market capitalization of $1.73 billion, a P/E ratio of 28.88 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. Equities analysts expect that MAG Silver will post 0.71 EPS for the current year.

Hedge Funds Weigh In On MAG Silver

Several institutional investors have recently modified their holdings of MAG. Oppenheimer & Co. Inc. increased its holdings in shares of MAG Silver by 23.4% in the first quarter. Oppenheimer & Co. Inc. now owns 455,150 shares of the company’s stock worth $4,815,000 after buying an additional 86,440 shares during the period. Azarias Capital Management L.P. lifted its position in MAG Silver by 73.7% in the first quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock valued at $14,866,000 after purchasing an additional 596,283 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of MAG Silver in the first quarter worth approximately $3,925,000. Jupiter Asset Management Ltd. increased its stake in shares of MAG Silver by 6.5% in the first quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock worth $26,584,000 after buying an additional 153,274 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in MAG Silver by 310.5% during the 2nd quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock valued at $2,224,000 after buying an additional 144,007 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors.

About MAG Silver

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 Silver Corp. is headquartered in Vancouver, Canada.