Shares of MAG Silver Corp. (NYSEAMERICAN:MAG – Get Rating) have received a consensus recommendation of “Hold” from the nine brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $27.18.
MAG has been the subject of several recent research reports. TD Securities lowered their target price on MAG Silver from C$31.00 to C$28.00 in a report on Wednesday, May 18th. HC Wainwright lowered their target price on MAG Silver from $22.00 to $21.50 and set a “buy” rating for the company in a report on Monday, April 4th. Raymond James upped their target price on MAG Silver from C$28.00 to C$29.00 in a report on Wednesday, April 20th. National Bank Financial lowered their target price on MAG Silver from C$30.00 to C$28.25 in a report on Wednesday, April 20th. Finally, Zacks Investment Research raised MAG Silver from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 6th.
Shares of MAG Silver stock opened at $15.07 on Monday. The stock has a market capitalization of $1.47 billion, a P/E ratio of 188.40 and a beta of 1.10. MAG Silver has a fifty-two week low of $12.05 and a fifty-two week high of $24.13.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its position in MAG Silver by 5.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,903,880 shares of the company’s stock worth $30,851,000 after purchasing an additional 97,460 shares during the period. Gabelli Funds LLC acquired a new stake in MAG Silver in the first quarter worth approximately $2,991,000. Sprott Inc. lifted its position in MAG Silver by 2.0% in the first quarter. Sprott Inc. now owns 5,080,197 shares of the company’s stock worth $82,171,000 after purchasing an additional 97,852 shares during the period. Guggenheim Capital LLC lifted its position in MAG Silver by 13.8% in the first quarter. Guggenheim Capital LLC now owns 87,670 shares of the company’s stock worth $1,418,000 after purchasing an additional 10,616 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in MAG Silver by 89.6% in the first quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company’s stock worth $54,000 after purchasing an additional 1,600 shares during the period. Hedge funds and other institutional investors own 48.55% of the company’s stock.
MAG Silver Company Profile (Get Rating)
MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. The company is headquartered in Vancouver, Canada.
- Get a free copy of the StockNews.com research report on MAG Silver (MAG)
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