Analysts Set MAG Silver Corp. (NYSEAMERICAN:MAG) PT at $18.63

MAG Silver Corp. (NYSEAMERICAN:MAG) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $18.63.

Several research analysts recently commented on the stock. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. HC Wainwright raised their price target on MAG Silver from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $17.00 to $17.50 in a research note on Thursday, October 24th. Finally, Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th.

Institutional Investors Weigh In On MAG Silver

Several large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position in MAG Silver by 4.8% during the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after purchasing an additional 467,817 shares during the last quarter. Tidal Investments LLC raised its position 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 valued at $39,453,000 after buying an additional 98,312 shares in the last quarter. Sprott Inc. lifted its holdings in shares of MAG Silver by 8.5% during the 4th quarter. Sprott Inc. now owns 2,649,507 shares of the company’s stock worth $36,004,000 after acquiring an additional 208,252 shares during the last quarter. Amundi grew its position in MAG Silver by 34.3% in the fourth quarter. Amundi now owns 507,941 shares of the company’s stock worth $7,264,000 after acquiring an additional 129,627 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in MAG Silver by 69.1% in the third quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock valued at $6,407,000 after acquiring an additional 186,445 shares during the last quarter. Institutional investors own 52.50% of the company’s stock.

MAG Silver Stock Performance

Shares of NYSEAMERICAN MAG opened at $15.79 on Wednesday. The firm has a market cap of $1.63 billion, a PE ratio of 22.24 and a beta of 1.09. MAG Silver has a one year low of $8.19 and a one year high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. As a group, research analysts expect that MAG Silver will post 0.75 EPS for the current fiscal year.

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.