MAG Silver Corp. (NYSEAMERICAN:MAG) Receives $18.63 Average PT from Brokerages

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $18.63.

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

MAG Silver Price Performance

MAG opened at $16.23 on Wednesday. MAG Silver has a one year low of $8.19 and a one year high of $18.27. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 22.86 and a beta of 1.09.

MAG Silver (NYSEAMERICAN:MAG) last released 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. Equities research analysts forecast that MAG Silver will post 0.75 EPS for the current fiscal year.

Institutional Investors Weigh In On MAG Silver

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