MAG Silver (NYSEAMERICAN:MAG) Cut to “Neutral” at Roth Mkm

Roth Mkm lowered shares of MAG Silver (NYSEAMERICAN:MAG) from a buy rating to a neutral rating in a report issued on Thursday morning, Marketbeat reports. Roth Mkm currently has $17.50 target price on the stock, up from their previous target price of $17.00.

A number of other equities research analysts have also recently weighed in on MAG. HC Wainwright increased their price target on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Scotiabank upped their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.88.

MAG Silver Trading Down 2.4 %

MAG Silver stock opened at $17.43 on Thursday. The stock has a market cap of $1.80 billion, a PE ratio of 30.05 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 announced its quarterly earnings results on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Research analysts expect that MAG Silver will post 0.69 EPS for the current fiscal year.

Institutional Trading of MAG Silver

Several institutional investors have recently added to or reduced their stakes in the company. Azarias Capital Management L.P. increased its position in 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 worth $14,866,000 after buying an additional 596,283 shares during the period. Privium Fund Management B.V. grew its stake in shares of MAG Silver by 71.9% in the first quarter. Privium Fund Management B.V. now owns 26,300 shares of the company’s stock valued at $278,000 after acquiring an additional 11,000 shares in the last quarter. Van ECK Associates Corp increased its position in MAG Silver by 7.5% during the first quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock worth $105,603,000 after acquiring an additional 696,140 shares during the period. Private Advisor Group LLC raised its stake in MAG Silver by 29.0% in the 1st quarter. Private Advisor Group LLC now owns 32,230 shares of the company’s stock worth $341,000 after purchasing an additional 7,244 shares in the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in MAG Silver by 38.9% in the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 40,825 shares of the company’s stock valued at $431,000 after purchasing an additional 11,425 shares during the period. 52.50% of the stock is currently owned by 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.