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

MAG Silver (NYSEAMERICAN:MAG) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

Several other research analysts also recently issued reports on MAG. Scotiabank lifted their price objective on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. HC Wainwright boosted their price target on MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and upped their price objective for the company from $17.00 to $17.50 in a research report on Thursday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.88.

MAG Silver Price Performance

Shares of MAG stock opened at $17.45 on Thursday. The firm has a market capitalization of $1.80 billion, a PE ratio of 30.78 and a beta of 1.15. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $18.01.

MAG Silver (NYSEAMERICAN:MAG) last posted its earnings results on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. As a group, sell-side analysts anticipate that MAG Silver will post 0.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp increased its stake in shares of MAG Silver by 7.5% during the 1st 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. Jupiter Asset Management Ltd. raised its stake in MAG Silver by 6.5% during the first quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock worth $26,584,000 after purchasing an additional 153,274 shares during the period. Tidal Investments LLC acquired a new position in shares of MAG Silver in the 1st quarter valued at $22,518,000. Azarias Capital Management L.P. grew its stake in shares of MAG Silver by 73.7% during the 1st quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock valued at $14,866,000 after buying an additional 596,283 shares during the period. Finally, TD Asset Management Inc grew its stake in shares of MAG Silver by 118.3% during the 2nd quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock valued at $12,415,000 after buying an additional 576,156 shares during the period. 52.50% of the stock is currently owned by institutional investors and hedge funds.

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.