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

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $17.88.

Several equities analysts recently commented on the company. Roth Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Mkm lowered shares of MAG Silver from a “buy” rating to a “neutral” rating and raised their price target for the company from $17.00 to $17.50 in a report on Thursday, October 24th. Scotiabank boosted their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. Finally, HC Wainwright upped their price objective on shares of MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, August 5th.

MAG Silver Price Performance

MAG stock opened at $16.76 on Monday. The firm has a market cap of $1.73 billion, a PE ratio of 28.90 and a beta of 1.15. MAG Silver has a 52 week low of $8.19 and a 52 week high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings data 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. On average, analysts forecast that MAG Silver will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MAG Silver

Several institutional investors and hedge funds have recently bought and sold shares of MAG. Perritt Capital Management Inc. acquired a new position in shares of MAG Silver during the first quarter valued at $26,000. Capital Performance Advisors LLP bought a new stake in shares of MAG Silver during the third quarter valued at approximately $28,000. Addenda Capital Inc. acquired a new position in shares of MAG Silver during the second quarter worth approximately $123,000. International Assets Investment Management LLC bought a new position in MAG Silver in the 3rd quarter worth approximately $148,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in MAG Silver in the 2nd quarter valued at approximately $161,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

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.