MAG Silver (NYSEAMERICAN:MAG) Upgraded to “Sell” at StockNews.com

StockNews.com upgraded shares of MAG Silver (NYSEAMERICAN:MAG) to a sell rating in a report issued on Wednesday.

MAG has been the topic of a number of other reports. Stifel Nicolaus dropped their target price on MAG Silver from $20.00 to $19.00 and set a buy rating on the stock in a research report on Wednesday, March 20th. HC Wainwright restated a buy rating and set a $18.50 price objective (down previously from $19.50) on shares of MAG Silver in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $19.13.

MAG Silver Stock Performance

MAG opened at $9.91 on Wednesday. MAG Silver has a 52-week low of $8.19 and a 52-week high of $14.42. The company has a market cap of $1.02 billion, a PE ratio of 21.09 and a beta of 1.13.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Equities research analysts predict that MAG Silver will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On MAG Silver

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its position in shares of MAG Silver by 82.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 343,188 shares of the company’s stock worth $3,573,000 after acquiring an additional 155,096 shares in the last quarter. Virtu Financial LLC bought a new position in MAG Silver during the fourth quarter worth $156,000. Legal & General Group Plc boosted its holdings in MAG Silver by 5.7% in the fourth quarter. Legal & General Group Plc now owns 75,590 shares of the company’s stock worth $790,000 after purchasing an additional 4,100 shares during the period. Nuveen Asset Management LLC bought a new stake in MAG Silver during the fourth quarter valued at $885,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of MAG Silver during the fourth quarter worth $141,000. Institutional investors own 52.50% of the company’s stock.

MAG Silver Company Profile

MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.