MAG Silver (NYSEAMERICAN:MAG) Rating Lowered to Neutral at Roth Mkm

MAG Silver (NYSEAMERICAN:MAG) was downgraded by analysts at Roth Mkm from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $17.50 price objective on the stock, up from their previous price objective of $17.00. Roth Mkm’s price target would indicate a potential upside of 0.32% from the company’s current price.

Other equities analysts also recently issued reports about the company. HC Wainwright increased their target price on MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Scotiabank increased 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $17.88.

MAG Silver Price Performance

Shares of MAG opened at $17.45 on Thursday. MAG Silver has a 1-year low of $8.19 and a 1-year high of $18.01. The company has a market cap of $1.80 billion, a PE ratio of 30.78 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. As a group, sell-side analysts expect that MAG Silver will post 0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MAG Silver

A number of large investors have recently added to or reduced their stakes in MAG. International Assets Investment Management LLC purchased a new position in MAG Silver in the third quarter valued at about $148,000. Veracity Capital LLC boosted its stake in shares of MAG Silver by 16.8% during the 3rd quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after buying an additional 2,396 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of MAG Silver by 304.8% during the second quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock worth $299,000 after buying an additional 19,253 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of MAG Silver in the second quarter worth $161,000. Finally, Mackenzie Financial Corp increased its stake in shares of MAG Silver by 310.5% in the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock worth $2,224,000 after buying an additional 144,007 shares during the last quarter. 52.50% of the stock is owned by institutional investors and hedge funds.

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.