Analysts Set MAG Silver Corp. (NYSEAMERICAN:MAG) Target Price at $19.38

MAG Silver Corp. (NYSEAMERICAN:MAG) has earned an average recommendation of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $19.38.

MAG has been the subject of several analyst reports. Scotiabank increased their target price on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. HC Wainwright raised their target price on shares of MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Stifel Nicolaus lifted their target price on shares of MAG Silver from $20.25 to $20.50 and gave the stock a “buy” rating in a research note on Wednesday, May 15th.

MAG Silver Price Performance

MAG Silver stock opened at $12.32 on Friday. MAG Silver has a 52 week low of $8.19 and a 52 week high of $14.30. The stock has a market cap of $1.27 billion, a P/E ratio of 22.00 and a beta of 1.14.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. As a group, equities research analysts predict that MAG Silver will post 0.67 earnings per share for the current fiscal year.

Institutional Trading of MAG Silver

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC bought a new stake in MAG Silver during the first quarter valued at about $22,518,000. Allspring Global Investments Holdings LLC purchased a new position in MAG Silver in the 2nd quarter worth approximately $9,932,000. Van ECK Associates Corp boosted its stake in MAG Silver by 7.5% in the 1st quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock worth $105,603,000 after purchasing an additional 696,140 shares during the period. First Eagle Investment Management LLC grew its holdings in MAG Silver by 11.2% during the 4th quarter. First Eagle Investment Management LLC now owns 6,380,120 shares of the company’s stock valued at $66,402,000 after buying an additional 642,494 shares in the last quarter. Finally, Azarias Capital Management L.P. grew its holdings in MAG Silver by 73.7% during the 1st quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock valued at $14,866,000 after buying an additional 596,283 shares in the last quarter. Hedge funds and other 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.