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

MAG Silver Corp. (NYSEAMERICAN:MAG) has earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.38.

Several research firms have commented on MAG. Scotiabank raised their price objective on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. HC Wainwright lifted 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 cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Roth Mkm downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating and raised their target price for the company from $17.00 to $17.50 in a research report on Thursday, October 24th.

MAG Silver Trading Down 0.7 %

MAG stock opened at $14.83 on Tuesday. MAG Silver has a 12 month low of $8.19 and a 12 month high of $18.27. The stock has a market capitalization of $1.53 billion, a P/E ratio of 20.89 and a beta of 1.07.

MAG Silver (NYSEAMERICAN:MAG) last issued its earnings results on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. On average, equities research analysts expect that MAG Silver will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On MAG Silver

A number of large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in shares of MAG Silver by 4.8% in the 3rd quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after buying an additional 467,817 shares during the period. Tidal Investments LLC grew its stake in shares of MAG Silver by 3.6% during the 3rd quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock worth $39,453,000 after purchasing an additional 98,312 shares during the period. TD Asset Management Inc increased its holdings in shares of MAG Silver by 118.3% during the 2nd quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock valued at $12,415,000 after purchasing an additional 576,156 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of MAG Silver in the 2nd quarter valued at $9,932,000. Finally, Gabelli Funds LLC boosted its holdings in MAG Silver by 12.2% during the second quarter. Gabelli Funds LLC now owns 459,000 shares of the company’s stock worth $5,357,000 after buying an additional 50,000 shares in the last quarter. 52.50% of the stock is currently owned by institutional investors.

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.