MAG Silver Corp. (NYSEAMERICAN:MAG) Receives Average Rating of “Moderate Buy” from Brokerages

MAG Silver Corp. (NYSEAMERICAN:MAG) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Three equities research 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 brokers that have issued ratings on the stock in the last year is $18.38.

Several equities research analysts recently weighed in on MAG shares. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Scotiabank raised their price objective on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. HC Wainwright raised their price objective on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $17.00 to $17.50 in a report on Thursday, October 24th.

Hedge Funds Weigh In On MAG Silver

A number of hedge funds have recently added to or reduced their stakes in MAG. Perritt Capital Management Inc. acquired a new position in MAG Silver during the 1st quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new position in MAG Silver during the 3rd quarter valued at about $28,000. Quantbot Technologies LP purchased a new position in shares of MAG Silver in the 3rd quarter worth approximately $52,000. Addenda Capital Inc. purchased a new position in shares of MAG Silver in the 2nd quarter worth approximately $123,000. Finally, Pekin Hardy Strauss Inc. purchased a new position in shares of MAG Silver in the 3rd quarter worth approximately $140,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Stock Performance

Shares of MAG stock opened at $15.38 on Friday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 21.61 and a beta of 1.12. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last issued its earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. On average, analysts forecast that MAG Silver will post 0.71 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.