Brokerages Set MAG Silver Corp. (NYSEAMERICAN:MAG) Target Price at $18.38

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $18.38.

A number of analysts have commented on the company. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Scotiabank boosted their target price 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. Finally, HC Wainwright boosted their target price on MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

MAG Silver Trading Down 0.8 %

Shares of MAG stock opened at $15.49 on Friday. MAG Silver has a 1-year low of $8.19 and a 1-year high of $18.27. The firm has a market cap of $1.60 billion, a P/E ratio of 21.82 and a beta of 1.12.

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. Equities analysts predict that MAG Silver will post 0.71 EPS for the current fiscal year.

Institutional Trading of MAG Silver

Institutional investors and hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp increased its stake in MAG Silver by 4.8% in the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after purchasing an additional 467,817 shares during the last quarter. Tidal Investments LLC acquired a new position in MAG Silver in the first quarter valued at $22,518,000. TD Asset Management Inc increased its stake in MAG Silver by 118.3% in the second quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock valued at $12,415,000 after purchasing an additional 576,156 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in MAG Silver in the second quarter valued at $9,932,000. Finally, Gabelli Funds LLC increased its stake in MAG Silver by 12.2% in the second quarter. Gabelli Funds LLC now owns 459,000 shares of the company’s stock valued at $5,357,000 after purchasing an additional 50,000 shares during the last quarter. 52.50% of the stock is currently owned by hedge funds and other 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.