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

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have received an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $18.38.

Several brokerages recently issued reports on MAG. HC Wainwright boosted 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. Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and upped their price target for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th.

Hedge Funds Weigh In On MAG Silver

A number of hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp grew its stake in MAG Silver by 310.5% in the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock valued at $2,224,000 after acquiring an additional 144,007 shares during the period. Van ECK Associates Corp boosted its position 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 worth $143,649,000 after purchasing an additional 467,817 shares during the last quarter. PCJ Investment Counsel Ltd. raised its stake in shares of MAG Silver by 38.1% in the third quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock valued at $5,196,000 after buying an additional 101,870 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of MAG Silver by 199.7% in the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock valued at $5,374,000 after buying an additional 254,553 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in shares of MAG Silver by 304.8% in the second quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock valued at $299,000 after buying an additional 19,253 shares during the period. 52.50% of the stock is currently owned by institutional investors.

MAG Silver Price Performance

Shares of NYSEAMERICAN:MAG opened at $14.04 on Friday. The firm has a market capitalization of $1.45 billion, a PE ratio of 19.77 and a beta of 1.07. MAG Silver has a twelve month low of $8.19 and a twelve month high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings data 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 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.