MAG Silver Corp. (NYSEAMERICAN:MAG) Given Average Rating of “Moderate Buy” by Analysts

MAG Silver Corp. (NYSEAMERICAN:MAG) has earned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $18.88.

MAG has been the topic of several research reports. HC Wainwright restated a “buy” rating and set a $17.00 price target on shares of MAG Silver in a report on Thursday, May 16th. Stifel Nicolaus boosted their price target on MAG Silver from $20.25 to $20.50 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Scotiabank boosted their price target on MAG Silver from $13.50 to $14.50 and gave the stock a “sector outperform” rating in a report on Thursday, May 23rd. Ventum Cap Mkts cut MAG Silver from a “buy” rating to a “neutral” rating in a report on Friday, May 3rd. Finally, StockNews.com upgraded MAG Silver to a “sell” rating in a report on Wednesday, March 27th.

MAG Silver Trading Down 0.8 %

MAG Silver stock opened at $11.58 on Tuesday. MAG Silver has a 12-month low of $8.19 and a 12-month high of $14.30. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 20.68 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. As a group, equities analysts anticipate that MAG Silver will post 0.55 earnings per share for the current fiscal 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 stock. Van ECK Associates Corp lifted its stake in MAG Silver by 7.5% in 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 lifted its stake in MAG Silver by 11.2% in the fourth 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 during the period. Jupiter Asset Management Ltd. lifted its stake in MAG Silver by 6.5% in the first quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock valued at $26,584,000 after buying an additional 153,274 shares during the period. Tidal Investments LLC acquired a new position in MAG Silver in the first quarter valued at approximately $22,518,000. Finally, Invesco Ltd. increased its holdings in shares of MAG Silver by 8.8% during the third quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock valued at $15,202,000 after acquiring an additional 118,211 shares in the last quarter. 52.50% of the stock is owned by institutional investors and hedge funds.

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.