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

MAG Silver Corp. (NYSEAMERICAN:MAGGet Free Report) has received an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $18.88.

Several equities analysts recently commented on MAG shares. HC Wainwright restated a “buy” rating and set a $17.00 target price on shares of MAG Silver in a research report on Thursday, May 16th. Ventum Cap Mkts lowered MAG Silver from a “buy” rating to a “neutral” rating in a report on Friday, May 3rd. Stifel Nicolaus raised their target price on shares of MAG Silver from $20.25 to $20.50 and gave the company a “buy” rating in a research note on Wednesday, May 15th. StockNews.com raised shares of MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. Finally, Scotiabank increased their price target on shares of MAG Silver from $13.50 to $14.50 and gave the stock a “sector outperform” rating in a report on Thursday, May 23rd.

Read Our Latest Analysis on MAG

MAG Silver Trading Down 1.2 %

Shares of MAG Silver stock opened at $13.45 on Friday. The stock has a market capitalization of $1.39 billion, a PE ratio of 24.02 and a beta of 1.10. MAG Silver has a 12-month low of $8.19 and a 12-month high of $14.30.

MAG Silver (NYSEAMERICAN:MAGGet Free Report) last posted its earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. On average, analysts anticipate that MAG Silver will post 0.59 earnings per share for the current year.

Hedge Funds Weigh In On MAG Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC bought a new position in shares of MAG Silver in the 1st quarter worth approximately $22,518,000. Azarias Capital Management L.P. bought a new position in MAG Silver in the fourth quarter worth $8,420,000. Van ECK Associates Corp lifted its position in MAG Silver by 7.5% during the first quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock valued at $105,603,000 after buying an additional 696,140 shares during the period. First Eagle Investment Management LLC boosted its holdings in shares of MAG Silver by 11.2% during the 4th quarter. First Eagle Investment Management LLC now owns 6,380,120 shares of the company’s stock valued at $66,402,000 after buying an additional 642,494 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of MAG Silver in the 1st quarter worth about $3,925,000. Institutional investors own 52.50% of the company’s stock.

About MAG Silver

(Get Free Report

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.

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Analyst Recommendations for MAG Silver (NYSEAMERICAN:MAG)

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