MAG Silver (NYSEAMERICAN:MAG) Upgraded at TD Securities

TD Securities upgraded shares of MAG Silver (NYSEAMERICAN:MAG) to a strong-buy rating in a report issued on Monday morning,Zacks.com reports.

Separately, HC Wainwright restated a “buy” rating and issued a $21.00 price objective on shares of MAG Silver in a research report on Tuesday, February 25th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.63.

MAG Silver Trading Up 3.4 %

Shares of NYSEAMERICAN MAG opened at $15.74 on Monday. The company has a market cap of $1.63 billion, a P/E ratio of 22.17 and a beta of 1.09. MAG Silver has a 52 week low of $8.94 and a 52 week high of $18.27. The business has a 50-day moving average of $15.15.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. PCJ Investment Counsel Ltd. raised its position in MAG Silver by 38.1% during the third quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock valued at $5,196,000 after purchasing an additional 101,870 shares in the last quarter. Pekin Hardy Strauss Inc. bought a new position in shares of MAG Silver during the 3rd quarter valued at about $140,000. The Manufacturers Life Insurance Company raised its holdings in shares of MAG Silver by 199.7% during the 3rd 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 in the last quarter. Quantbot Technologies LP bought a new stake in MAG Silver in the 3rd quarter worth approximately $52,000. Finally, Verition Fund Management LLC purchased a new stake in MAG Silver in the third quarter worth approximately $168,000. 52.50% of the stock is currently owned by institutional investors.

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.