MAG Silver Corp. (NYSEAMERICAN:MAG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have received a consensus rating of “Moderate Buy” from the five analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $18.88.

Several research firms recently commented on MAG. HC Wainwright restated a “buy” rating and issued a $17.00 price target on shares of MAG Silver in a research note on Thursday, May 16th. StockNews.com upgraded shares of MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Ventum Cap Mkts cut MAG Silver from a “buy” rating to a “neutral” rating in a research note on Friday, May 3rd. Scotiabank increased their price target on MAG Silver from $13.50 to $14.50 and gave the stock a “sector outperform” rating in a research report on Thursday, May 23rd. Finally, Stifel Nicolaus lifted their price objective on MAG Silver from $20.25 to $20.50 and gave the company a “buy” rating in a report on Wednesday, May 15th.

Hedge Funds Weigh In On MAG Silver

A number of hedge funds have recently modified their holdings of MAG. Tidal Investments LLC bought a new stake in MAG Silver in the first quarter valued at approximately $22,518,000. Azarias Capital Management L.P. acquired a new stake in shares of MAG Silver during the fourth quarter worth $8,420,000. Van ECK Associates Corp raised its stake 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 buying an additional 696,140 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in MAG Silver by 11.2% in the fourth quarter. First Eagle Investment Management LLC now owns 6,380,120 shares of the company’s stock valued at $66,402,000 after buying an additional 642,494 shares during the period. Finally, Janus Henderson Group PLC bought a new stake in MAG Silver during the first quarter valued at $3,925,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Stock Performance

NYSEAMERICAN:MAG opened at $11.92 on Tuesday. MAG Silver has a 12-month low of $8.19 and a 12-month high of $14.30. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 21.28 and a beta of 1.14.

MAG Silver (NYSEAMERICAN:MAG) last announced its earnings results on Tuesday, May 14th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. Equities research analysts predict that MAG Silver will post 0.57 EPS for the current fiscal 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.