MAG Silver Corp. (NYSEAMERICAN:MAG) Receives $17.88 Consensus Price Target from Analysts

MAG Silver Corp. (NYSEAMERICAN:MAG) has earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $17.88.

A number of analysts have recently weighed in on the stock. Scotiabank upped their price target on shares of MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. HC Wainwright increased their target price 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. Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Roth Mkm lowered shares of MAG Silver from a “buy” rating to a “neutral” rating and increased their target price for the company from $17.00 to $17.50 in a research note on Thursday, October 24th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MAG. Oppenheimer & Co. Inc. boosted its holdings in shares of MAG Silver by 23.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 455,150 shares of the company’s stock worth $4,815,000 after buying an additional 86,440 shares during the period. Azarias Capital Management L.P. boosted its holdings in shares of 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 worth $14,866,000 after buying an additional 596,283 shares during the period. Janus Henderson Group PLC bought a new stake in shares of MAG Silver during the 1st quarter worth $3,925,000. Jupiter Asset Management Ltd. boosted its holdings in shares of MAG Silver by 6.5% during the 1st quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock worth $26,584,000 after buying an additional 153,274 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in shares of MAG Silver by 310.5% during the 2nd quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock worth $2,224,000 after buying an additional 144,007 shares during the period. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Stock Down 1.4 %

NYSEAMERICAN MAG opened at $17.73 on Monday. MAG Silver has a 52 week low of $8.19 and a 52 week high of $18.27. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 30.57 and a beta of 1.15.

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

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.