Roth Mkm Issues Pessimistic Forecast for MAG Silver (NYSEAMERICAN:MAG) Stock Price

MAG Silver (NYSEAMERICAN:MAG) had its price objective decreased by investment analysts at Roth Mkm from $16.50 to $16.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Roth Mkm’s price objective suggests a potential downside of 0.12% from the company’s current price.

A number of other research analysts also recently weighed in on MAG. TD Securities upgraded MAG Silver to a “strong-buy” rating in a research note on Monday, March 10th. HC Wainwright raised their target price on shares of MAG Silver from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, MAG Silver has an average rating of “Moderate Buy” and an average price target of $18.00.

MAG Silver Stock Down 2.8 %

Shares of NYSEAMERICAN:MAG opened at $16.02 on Tuesday. The company has a market cap of $1.66 billion, a PE ratio of 22.56 and a beta of 1.09. The business’s 50-day simple moving average is $15.62. MAG Silver has a one year low of $9.11 and a one year high of $18.27.

Institutional Trading of MAG Silver

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP bought a new position in MAG Silver in the 3rd quarter valued at about $52,000. DF Dent & Co. Inc. acquired a new position in shares of MAG Silver in the third quarter valued at approximately $140,000. Pekin Hardy Strauss Inc. bought a new position in shares of MAG Silver during the third quarter worth approximately $140,000. D. E. Shaw & Co. Inc. acquired a new stake in MAG Silver during the 4th quarter worth approximately $156,000. Finally, Aigen Investment Management LP acquired a new stake in MAG Silver during the 4th quarter worth approximately $156,000. Institutional investors own 52.50% of the company’s stock.

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.