Brokerages Set MAG Silver Corp. (NYSEAMERICAN:MAG) Target Price at $18.38

MAG Silver Corp. (NYSEAMERICAN:MAG) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $18.38.

Several research firms have commented on MAG. Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $17.00 to $17.50 in a research note on Thursday, October 24th. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, HC Wainwright lifted their price objective on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th.

MAG Silver Trading Down 2.1 %

Shares of MAG Silver stock opened at $13.74 on Friday. The firm has a market capitalization of $1.42 billion, a PE ratio of 19.35 and a beta of 1.07. MAG Silver has a 52 week low of $8.19 and a 52 week high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Equities analysts forecast that MAG Silver will post 0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of MAG Silver by 69.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock valued at $6,407,000 after purchasing an additional 186,445 shares in the last quarter. Tidal Investments LLC grew its position in MAG Silver by 3.6% during the third quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock worth $39,453,000 after buying an additional 98,312 shares during the period. Barclays PLC increased its holdings in MAG Silver by 211.5% in the third quarter. Barclays PLC now owns 30,780 shares of the company’s stock valued at $432,000 after buying an additional 20,899 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of MAG Silver during the 3rd quarter worth approximately $390,000. Finally, DF Dent & Co. Inc. purchased a new stake in shares of MAG Silver during the 3rd quarter worth approximately $140,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.