MAG Silver (NYSEAMERICAN:MAG) Downgraded by Roth Mkm to “Neutral”

Roth Mkm lowered shares of MAG Silver (NYSEAMERICAN:MAG) from a buy rating to a neutral rating in a research report released on Thursday morning, Marketbeat Ratings reports. They currently have $17.50 price objective on the stock, up from their prior price objective of $17.00.

Several other equities research analysts have also recently commented on the company. HC Wainwright upped their price target on MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Scotiabank increased their target price on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.88.

MAG Silver Price Performance

MAG stock opened at $17.43 on Thursday. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $18.01. The company has a market cap of $1.80 billion, a P/E ratio of 30.05 and a beta of 1.15.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MAG. Veracity Capital LLC grew its holdings in MAG Silver by 16.8% in the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after purchasing an additional 2,396 shares during the period. Perritt Capital Management Inc. purchased a new position in shares of MAG Silver in the 1st quarter worth $26,000. Gamco Investors INC. ET AL boosted its holdings in MAG Silver by 15.0% in the first quarter. Gamco Investors INC. ET AL now owns 44,970 shares of the company’s stock valued at $476,000 after acquiring an additional 5,850 shares during the last quarter. Private Advisor Group LLC boosted its holdings in MAG Silver by 29.0% in the first quarter. Private Advisor Group LLC now owns 32,230 shares of the company’s stock valued at $341,000 after acquiring an additional 7,244 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in MAG Silver by 8.7% during the second quarter. CIBC Asset Management Inc now owns 115,179 shares of the company’s stock valued at $1,345,000 after acquiring an additional 9,173 shares during the period. 52.50% of the stock is currently owned by institutional investors and hedge funds.

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.