MAG Silver (NYSEAMERICAN:MAG) Rating Increased to Hold at StockNews.com

MAG Silver (NYSEAMERICAN:MAG) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other equities research analysts have also recently issued reports on MAG. HC Wainwright upped their price objective on shares of MAG Silver from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th. Roth Mkm cut their price target on shares of MAG Silver from $16.50 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. TD Securities upgraded MAG Silver to a “strong-buy” rating in a report on Monday, March 10th. Raymond James restated an “outperform” rating on shares of MAG Silver in a report on Tuesday, March 25th. Finally, Roth Capital set a $16.00 price target on MAG Silver in a research note on Tuesday, March 25th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, MAG Silver currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

MAG Silver Price Performance

Shares of NYSEAMERICAN MAG traded down $0.42 during trading hours on Monday, reaching $15.28. 784,982 shares of the stock traded hands, compared to its average volume of 631,293. The business’s 50-day moving average is $15.72. The stock has a market cap of $1.58 billion, a P/E ratio of 21.52 and a beta of 1.09. MAG Silver has a 52-week low of $10.62 and a 52-week high of $18.27.

Hedge Funds Weigh In On MAG Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Eagle Investment Management LLC raised its stake in MAG Silver by 46.4% in the fourth quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company’s stock worth $106,379,000 after buying an additional 2,486,538 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of MAG Silver by 3.6% during the 3rd quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock worth $39,453,000 after acquiring an additional 98,312 shares during the period. Sprott Inc. raised its position in shares of MAG Silver by 8.5% in the 4th quarter. Sprott Inc. now owns 2,649,507 shares of the company’s stock worth $36,004,000 after acquiring an additional 208,252 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of MAG Silver by 6.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,161,605 shares of the company’s stock valued at $15,762,000 after purchasing an additional 73,205 shares during the period. Finally, Millennium Management LLC boosted its position in shares of MAG Silver by 3,324.7% during the fourth quarter. Millennium Management LLC now owns 886,203 shares of the company’s stock valued at $12,052,000 after purchasing an additional 860,326 shares in the last quarter. Institutional investors own 52.50% of the company’s stock.

MAG Silver Company Profile

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.