MAG Silver (NYSEAMERICAN:MAG) Upgraded by StockNews.com to Hold Rating

MAG Silver (NYSEAMERICAN:MAG) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

A number of other research firms also recently weighed in on MAG. Roth Capital set a $16.00 target price on shares of MAG Silver in a research report on Tuesday, March 25th. TD Securities raised MAG Silver to a “strong-buy” rating in a report on Monday, March 10th. Roth Mkm decreased their target price on MAG Silver from $16.50 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. HC Wainwright upped their price target on MAG Silver from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, March 25th. Finally, Raymond James reissued an “outperform” rating on shares of MAG Silver in a report on Tuesday, March 25th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MAG Silver presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

MAG Silver Stock Down 2.7 %

Shares of NYSEAMERICAN MAG traded down $0.42 during mid-day trading on Monday, reaching $15.28. 784,982 shares of the company’s stock were exchanged, compared to its average volume of 631,293. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 21.52 and a beta of 1.09. The stock has a 50-day moving average price of $15.72. MAG Silver has a 52 week low of $10.62 and a 52 week high of $18.27.

Hedge Funds Weigh In On MAG Silver

A number of large investors have recently modified their holdings of the company. First Eagle Investment Management LLC grew its position in MAG Silver by 46.4% during the fourth quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company’s stock worth $106,379,000 after buying an additional 2,486,538 shares in the last quarter. Millennium Management LLC grew its holdings in shares of MAG Silver by 3,324.7% during the fourth quarter. Millennium Management LLC now owns 886,203 shares of the company’s stock worth $12,052,000 after purchasing an additional 860,326 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of MAG Silver in the fourth quarter worth approximately $3,482,000. The Manufacturers Life Insurance Company raised its stake in MAG Silver by 199.7% in the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock valued at $5,374,000 after purchasing an additional 254,553 shares in the last quarter. Finally, Sprott Inc. lifted its position in MAG Silver by 8.5% during the fourth quarter. Sprott Inc. now owns 2,649,507 shares of the company’s stock valued at $36,004,000 after purchasing an additional 208,252 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors.

MAG Silver Company Profile

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.