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

MAG Silver Corp. (NYSEAMERICAN:MAG) has been given an average rating of “Moderate Buy” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $18.63.

A number of research firms recently weighed in on MAG. HC Wainwright upped 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 Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Mkm cut shares of MAG Silver from a “buy” rating to a “neutral” rating and lifted their price target for the company from $17.00 to $17.50 in a research note on Thursday, October 24th. Finally, StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th.

MAG Silver Trading Down 0.9 %

MAG stock opened at $16.23 on Wednesday. The firm has a market capitalization of $1.68 billion, a PE ratio of 22.86 and a beta of 1.09. MAG Silver has a 12 month low of $8.19 and a 12 month high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. On average, research analysts expect that MAG Silver will post 0.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Asset Management Inc increased its stake in shares of MAG Silver by 0.7% during the fourth quarter. CIBC Asset Management Inc now owns 114,355 shares of the company’s stock worth $1,550,000 after buying an additional 755 shares during the period. Swiss National Bank grew its holdings in MAG Silver by 0.6% during the 4th quarter. Swiss National Bank now owns 193,900 shares of the company’s stock worth $2,633,000 after acquiring an additional 1,200 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of MAG Silver in the 3rd quarter valued at approximately $28,000. Veracity Capital LLC increased its position in shares of MAG Silver by 16.8% in the 3rd 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 last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of MAG Silver in the 3rd quarter valued at $52,000. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

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.