StockNews.com Upgrades MAG Silver (NYSEAMERICAN:MAG) to Sell

MAG Silver (NYSEAMERICAN:MAG) was upgraded by StockNews.com to a “sell” rating in a note issued to investors on Wednesday.

A number of other brokerages also recently issued reports on MAG. Stifel Nicolaus reduced their price target on MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, March 20th. HC Wainwright reissued a “buy” rating and set a $18.50 price target (down previously from $19.50) on shares of MAG Silver in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.63.

MAG Silver Stock Performance

Shares of NYSEAMERICAN MAG opened at $10.60 on Wednesday. The company has a market cap of $1.09 billion, a PE ratio of 22.55 and a beta of 1.13. MAG Silver has a 1-year low of $8.19 and a 1-year high of $14.42.

MAG Silver (NYSEAMERICAN:MAG) last announced its earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Equities research analysts predict that MAG Silver will post 0.55 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Van ECK Associates Corp raised its position in MAG Silver by 4.4% during the 3rd quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock worth $101,069,000 after purchasing an additional 406,335 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of MAG Silver in the 3rd quarter worth about $127,000. Oppenheimer & Co. Inc. raised its position in shares of MAG Silver by 1.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company’s stock worth $3,745,000 after acquiring an additional 6,895 shares in the last quarter. Swiss National Bank raised its position in shares of MAG Silver by 17.1% in the 2nd quarter. Swiss National Bank now owns 226,800 shares of the company’s stock worth $2,528,000 after acquiring an additional 33,100 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of MAG Silver by 8.8% in the 3rd quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock valued at $15,202,000 after buying an additional 118,211 shares during the period. 52.50% of the stock is owned by institutional investors.

About MAG Silver

MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.