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

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have received a consensus rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.63.

A number of research firms have issued reports on MAG. Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. HC Wainwright raised their target price on shares of MAG Silver from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and increased their price target for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th.

Hedge Funds Weigh In On MAG Silver

Large investors have recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new position in shares of MAG Silver during the 3rd quarter worth $28,000. Quantbot Technologies LP acquired a new position in MAG Silver in the third quarter valued at $52,000. DF Dent & Co. Inc. purchased a new position in MAG Silver during the third quarter worth about $140,000. Pekin Hardy Strauss Inc. acquired a new stake in MAG Silver in the 3rd quarter worth about $140,000. Finally, International Assets Investment Management LLC purchased a new stake in MAG Silver in the 3rd quarter valued at about $148,000. Hedge funds and other institutional investors own 52.50% of the company’s stock.

MAG Silver Stock Up 1.0 %

Shares of NYSEAMERICAN:MAG opened at $16.10 on Wednesday. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 22.68 and a beta of 1.09. MAG Silver has a 1 year low of $8.19 and a 1 year high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last announced 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. Analysts anticipate that MAG Silver will post 0.75 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.