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

MAG Silver Corp. (NYSEAMERICAN:MAG) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $18.88.

A number of equities analysts have recently issued reports on MAG shares. Ventum Cap Mkts lowered shares of MAG Silver from a “buy” rating to a “neutral” rating in a report on Friday, May 3rd. StockNews.com upgraded MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. HC Wainwright reaffirmed a “buy” rating and issued a $17.00 price objective on shares of MAG Silver in a research report on Thursday, May 16th. Stifel Nicolaus upped their price target on shares of MAG Silver from $20.25 to $20.50 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Finally, Scotiabank boosted their price objective on shares of MAG Silver from $13.50 to $14.50 and gave the company a “sector outperform” rating in a report on Thursday, May 23rd.

MAG Silver Price Performance

Shares of MAG stock opened at $11.92 on Tuesday. The company has a market cap of $1.23 billion, a P/E ratio of 21.28 and a beta of 1.14. MAG Silver has a 52-week low of $8.19 and a 52-week high of $14.30.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. Research analysts expect that MAG Silver will post 0.57 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MAG. Raymond James Financial Services Advisors Inc. boosted its position in MAG Silver by 6.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock worth $665,000 after purchasing an additional 3,950 shares in the last quarter. CIBC Asset Management Inc increased its holdings in MAG Silver by 3.0% in the fourth quarter. CIBC Asset Management Inc now owns 90,881 shares of the company’s stock valued at $949,000 after buying an additional 2,652 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of MAG Silver in the third quarter worth about $127,000. National Bank of Canada FI boosted its stake in shares of MAG Silver by 5.9% during the 4th quarter. National Bank of Canada FI now owns 240,600 shares of the company’s stock worth $2,477,000 after acquiring an additional 13,348 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of MAG Silver during the 4th quarter valued at about $513,000. 52.50% of the stock is currently owned by institutional investors and hedge funds.

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.