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

MAG Silver Corp. (NYSEAMERICAN:MAG) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $18.38.

MAG has been the topic of a number of recent analyst reports. Roth Mkm cut shares of MAG Silver from a “buy” rating to a “neutral” rating and increased their price target for the company from $17.00 to $17.50 in a report on Thursday, October 24th. Scotiabank increased their target price on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. HC Wainwright boosted their price target on MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Roth Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th.

MAG Silver Price Performance

MAG opened at $15.64 on Friday. MAG Silver has a 52 week low of $8.19 and a 52 week high of $18.27. The company has a market capitalization of $1.62 billion, a PE ratio of 22.02 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last announced its earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. As a group, research analysts expect that MAG Silver will post 0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new position in shares of MAG Silver during the 1st quarter valued at about $3,925,000. Mackenzie Financial Corp boosted its stake in MAG Silver by 310.5% during the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock valued at $2,224,000 after buying an additional 144,007 shares during the last quarter. Van ECK Associates Corp grew its holdings in MAG Silver by 4.8% during the 3rd quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after buying an additional 467,817 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in MAG Silver by 304.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock worth $299,000 after acquiring an additional 19,253 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. raised its holdings in shares of MAG Silver by 38.1% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock worth $5,196,000 after acquiring an additional 101,870 shares in the last quarter. 52.50% of the stock is 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.