MAG Silver (NYSEAMERICAN:MAG) Cut to “Neutral” at Roth Mkm

Roth Mkm downgraded shares of MAG Silver (NYSEAMERICAN:MAG) from a buy rating to a neutral rating in a report published on Thursday morning, MarketBeat.com reports. They currently have $17.50 target price on the stock, up from their prior target price of $17.00.

MAG has been the topic of several other reports. HC Wainwright upped their price target on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Scotiabank boosted their target price on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.88.

MAG Silver Stock Up 0.3 %

Shares of MAG Silver stock opened at $17.85 on Thursday. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 30.78 and a beta of 1.15. MAG Silver has a 52 week low of $8.19 and a 52 week high of $18.01.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.02. As a group, research analysts predict that MAG Silver will post 0.69 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Veracity Capital LLC boosted its position in shares of MAG Silver by 16.8% in the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock worth $234,000 after purchasing an additional 2,396 shares during the period. Perritt Capital Management Inc. purchased a new stake in MAG Silver during the first quarter valued at approximately $26,000. Gamco Investors INC. ET AL grew its stake in MAG Silver by 15.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 44,970 shares of the company’s stock worth $476,000 after buying an additional 5,850 shares during the last quarter. Private Advisor Group LLC raised its stake in MAG Silver by 29.0% in the first quarter. Private Advisor Group LLC now owns 32,230 shares of the company’s stock valued at $341,000 after buying an additional 7,244 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of MAG Silver by 8.7% in the second quarter. CIBC Asset Management Inc now owns 115,179 shares of the company’s stock worth $1,345,000 after purchasing an additional 9,173 shares during the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.