MAG Silver Corp. (NYSEAMERICAN:MAG) Given Average Rating of “Moderate Buy” by Analysts

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have been assigned a consensus rating of “Moderate Buy” from the five research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $19.38.

A number of research firms recently commented on MAG. Scotiabank increased their price objective on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. HC Wainwright increased their price objective on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, August 5th.

MAG Silver Trading Up 8.7 %

MAG opened at $13.69 on Friday. The firm has a market cap of $1.41 billion, a P/E ratio of 24.45 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 posted its quarterly earnings data on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Equities analysts predict that MAG Silver will post 0.67 earnings per share for the current fiscal year.

Institutional Trading of MAG Silver

Hedge funds have recently added to or reduced their stakes in the business. Perritt Capital Management Inc. purchased a new position in shares of MAG Silver in the 1st quarter worth about $26,000. Banque Cantonale Vaudoise raised its holdings in shares of MAG Silver by 8.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock worth $116,000 after purchasing an additional 876 shares during the period. Addenda Capital Inc. purchased a new position in shares of MAG Silver in the 2nd quarter worth about $123,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of MAG Silver in the 2nd quarter worth about $161,000. Finally, Private Advisor Group LLC raised its holdings in shares of MAG Silver by 6.1% in the 4th quarter. Private Advisor Group LLC now owns 24,986 shares of the company’s stock worth $260,000 after purchasing an additional 1,447 shares during the period. 52.50% of the stock is owned by institutional investors and hedge funds.

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.