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

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have been given a consensus rating of “Moderate Buy” by the six analysts that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $18.38.

Several analysts have recently issued reports on the company. HC Wainwright upped their price objective on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Roth Capital cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Roth Mkm lowered shares of MAG Silver from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $17.00 to $17.50 in a research report on Thursday, October 24th.

Hedge Funds Weigh In On MAG Silver

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp increased its position in MAG Silver by 310.5% during the 2nd quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock worth $2,224,000 after purchasing an additional 144,007 shares in the last quarter. Van ECK Associates Corp increased its position in shares of MAG Silver by 4.8% in the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after acquiring an additional 467,817 shares in the last quarter. PCJ Investment Counsel Ltd. raised its stake in shares of MAG Silver by 38.1% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock valued at $5,196,000 after acquiring an additional 101,870 shares during the period. The Manufacturers Life Insurance Company lifted its holdings 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 valued at $5,374,000 after acquiring an additional 254,553 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in MAG Silver by 304.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock worth $299,000 after purchasing an additional 19,253 shares during the period. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Stock Down 2.1 %

Shares of MAG opened at $13.74 on Friday. MAG Silver has a 12-month low of $8.19 and a 12-month high of $18.27. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 19.35 and a beta of 1.07.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. As a group, research analysts anticipate that MAG Silver will post 0.75 earnings per share for the current year.

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.