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

MAG Silver Corp. (NYSEAMERICAN:MAG) has earned a consensus rating of “Buy” from the four analysts that are currently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $18.25.

A number of equities research analysts have weighed in on the stock. Scotiabank raised shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and reduced their target price for the stock from $15.00 to $13.50 in a report on Thursday, March 28th. Stifel Nicolaus reduced their price objective on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, March 20th. StockNews.com raised MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Finally, HC Wainwright upped their price target on MAG Silver from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, April 25th.

MAG Silver Trading Down 0.6 %

Shares of NYSEAMERICAN:MAG opened at $12.28 on Monday. MAG Silver has a 1 year low of $8.19 and a 1 year high of $13.62. The company has a market capitalization of $1.26 billion, a P/E ratio of 26.13 and a beta of 1.10.

MAG Silver (NYSEAMERICAN:MAG) last posted 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. As a group, equities analysts predict that MAG Silver will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in MAG Silver by 450.1% in the 1st quarter. BNP Paribas Financial Markets now owns 32,104 shares of the company’s stock worth $340,000 after purchasing an additional 26,268 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in shares of MAG Silver by 38.9% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 40,825 shares of the company’s stock worth $431,000 after buying an additional 11,425 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of MAG Silver by 29.0% in the first quarter. Private Advisor Group LLC now owns 32,230 shares of the company’s stock valued at $341,000 after acquiring an additional 7,244 shares in the last quarter. Van ECK Associates Corp increased its position in shares of MAG Silver by 7.5% during the first quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock valued at $105,603,000 after acquiring an additional 696,140 shares during the last quarter. Finally, Privium Fund Management B.V. lifted its holdings in MAG Silver by 71.9% during the first quarter. Privium Fund Management B.V. now owns 26,300 shares of the company’s stock worth $278,000 after acquiring an additional 11,000 shares during the period. Hedge funds and other institutional investors own 52.50% of the company’s stock.

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.