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

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

A number of equities analysts have issued reports on the company. Roth Capital cut MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Scotiabank raised their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Roth Mkm lowered shares of 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 report on Thursday, October 24th. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, HC Wainwright boosted their price objective on shares of MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

Institutional Trading of MAG Silver

Large investors have recently bought and sold shares of the business. Janus Henderson Group PLC acquired a new stake in shares of MAG Silver during the 1st quarter worth approximately $3,925,000. Mackenzie Financial Corp boosted its stake in MAG Silver by 310.5% during the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock worth $2,224,000 after acquiring an additional 144,007 shares in the last quarter. Van ECK Associates Corp grew its holdings in MAG Silver by 4.8% in the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after purchasing an additional 467,817 shares during the period. PCJ Investment Counsel Ltd. increased its stake in MAG Silver by 38.1% in the third quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock valued at $5,196,000 after purchasing an additional 101,870 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of MAG Silver by 304.8% during the second quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock valued at $299,000 after purchasing an additional 19,253 shares during the period. 52.50% of the stock is currently owned by institutional investors and hedge funds.

MAG Silver Stock Performance

Shares of MAG Silver stock opened at $15.35 on Friday. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 21.62 and a beta of 1.12. MAG Silver has a 12-month low of $8.19 and a 12-month 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 predict that MAG Silver will post 0.71 EPS for the current fiscal 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.