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

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have earned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $18.63.

MAG has been the subject of several recent research reports. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. HC Wainwright raised their price target on shares of MAG Silver from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and raised their target price for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th.

Institutional Investors Weigh In On MAG Silver

Institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased its position in shares of MAG Silver by 4.8% during the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after acquiring an additional 467,817 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of MAG Silver during the 4th quarter valued at $3,482,000. The Manufacturers Life Insurance Company raised its stake in shares of MAG Silver by 199.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after purchasing an additional 254,553 shares during the period. Sprott Inc. boosted its holdings in shares of MAG Silver by 8.5% in the 4th quarter. Sprott Inc. now owns 2,649,507 shares of the company’s stock worth $36,004,000 after buying an additional 208,252 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in MAG Silver by 69.1% during the third quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock valued at $6,407,000 after buying an additional 186,445 shares during the period. Institutional investors own 52.50% of the company’s stock.

MAG Silver Price Performance

NYSEAMERICAN MAG opened at $15.79 on Wednesday. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 22.24 and a beta of 1.09. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last posted its earnings results on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. As a group, analysts predict that MAG Silver will post 0.75 EPS for the current fiscal year.

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.