MAG Silver (NYSEAMERICAN:MAG) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of MAG Silver (NYSEAMERICAN:MAG) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

MAG has been the subject of several other reports. Roth Mkm downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating and upped their target price for the company from $17.00 to $17.50 in a research note on Thursday. HC Wainwright increased their price target on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, August 5th. Finally, Scotiabank lifted 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $17.88.

MAG Silver Stock Up 0.3 %

MAG opened at $17.85 on Thursday. MAG Silver has a 52-week low of $8.19 and a 52-week high of $18.01. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 30.78 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. On average, research analysts predict that MAG Silver will post 0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MAG. Oppenheimer & Co. Inc. boosted its holdings in MAG Silver by 23.4% in the first quarter. Oppenheimer & Co. Inc. now owns 455,150 shares of the company’s stock worth $4,815,000 after purchasing an additional 86,440 shares during the period. Azarias Capital Management L.P. grew its holdings in shares of MAG Silver by 73.7% during the first quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock valued at $14,866,000 after purchasing an additional 596,283 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of MAG Silver during the 1st quarter worth approximately $3,925,000. Jupiter Asset Management Ltd. increased its position in MAG Silver by 6.5% in the first quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock worth $26,584,000 after buying an additional 153,274 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in MAG Silver by 310.5% in the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock valued at $2,224,000 after buying an additional 144,007 shares during the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

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.