Analysts Set MAG Silver Corp. (NYSEAMERICAN:MAG) Price Target at $18.00

MAG Silver Corp. (NYSEAMERICAN:MAG) has been given an average recommendation of “Buy” by the four research firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $18.00.

A number of brokerages have weighed in on MAG. HC Wainwright reduced their price target on MAG Silver from $19.50 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, April 4th. Scotiabank raised shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and dropped their price objective for the company from $15.00 to $13.50 in a research note on Thursday, March 28th. Stifel Nicolaus decreased their target price on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, March 20th. Finally, StockNews.com raised shares of MAG Silver to a “sell” rating in a research report on Wednesday, March 27th.

Institutional Trading of MAG Silver

A number of large investors have recently modified their holdings of MAG. Natixis acquired a new stake in shares of MAG Silver in the 4th quarter worth approximately $34,000. Geneos Wealth Management Inc. grew its holdings in MAG Silver by 89.6% during the first quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company’s stock worth $54,000 after acquiring an additional 1,600 shares during the period. Deutsche Bank AG bought a new stake in MAG Silver in the fourth quarter worth about $55,000. BNP Paribas Financial Markets acquired a new stake in MAG Silver in the 4th quarter valued at about $61,000. Finally, Chilton Capital Management LLC acquired a new position in shares of MAG Silver in the 1st quarter worth approximately $78,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Price Performance

Shares of MAG Silver stock opened at $11.94 on Thursday. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 25.40 and a beta of 1.15. MAG Silver has a 12-month low of $8.19 and a 12-month high of $14.42.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. As a group, sell-side analysts predict that MAG Silver will post 0.47 earnings per share for the current year.

MAG Silver Company Profile

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.