MAG Silver (NYSEAMERICAN:MAG) Upgraded at StockNews.com

StockNews.com upgraded shares of MAG Silver (NYSEAMERICAN:MAG) from a sell rating to a hold rating in a report released on Thursday morning.

Several other brokerages have also recently issued reports on MAG. Roth Mkm cut shares of MAG Silver from a “buy” rating to a “neutral” rating and raised their target price for the stock from $17.00 to $17.50 in a report on Thursday. Scotiabank boosted their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. 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 research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $17.88.

MAG Silver Stock Performance

Shares of NYSEAMERICAN:MAG opened at $17.43 on Thursday. The firm has a market capitalization of $1.80 billion, a P/E ratio of 30.05 and a beta of 1.15. MAG Silver has a 52 week low of $8.19 and a 52 week high of $18.01.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. As a group, equities analysts forecast that MAG Silver will post 0.69 earnings per share for the current fiscal year.

Institutional Trading of MAG Silver

Several institutional investors and hedge funds have recently bought and sold shares of MAG. Perritt Capital Management Inc. purchased a new position in shares of MAG Silver during the 1st quarter worth approximately $26,000. Addenda Capital Inc. purchased a new stake in MAG Silver in the second quarter worth $123,000. International Assets Investment Management LLC bought a new position in MAG Silver in the third quarter worth $148,000. Susquehanna Fundamental Investments LLC purchased a new position in MAG Silver during the second quarter valued at $161,000. Finally, Veracity Capital LLC lifted its position in MAG Silver by 16.8% during the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after buying an additional 2,396 shares during the period. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

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.