Roth Mkm Lowers MAG Silver (NYSEAMERICAN:MAG) to Neutral

MAG Silver (NYSEAMERICAN:MAG) was downgraded by investment analysts at Roth Mkm from a “buy” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat.com reports. They presently have a $17.50 price objective on the stock, up from their prior price objective of $17.00. Roth Mkm’s target price would suggest a potential upside of 0.32% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. Scotiabank boosted their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. HC Wainwright upped their target price on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, MAG Silver currently has a consensus rating of “Hold” and an average price target of $17.88.

MAG Silver Stock Down 2.3 %

Shares of MAG opened at $17.45 on Thursday. MAG Silver has a 52 week low of $8.19 and a 52 week high of $18.01. The company has a market capitalization of $1.80 billion, a PE ratio of 30.78 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Equities analysts expect that MAG Silver will post 0.69 earnings per share for the current year.

Institutional Investors Weigh In On MAG Silver

Several large investors have recently made changes to their positions in MAG. Veracity Capital LLC increased its holdings in shares of MAG Silver by 16.8% during the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after purchasing an additional 2,396 shares during the period. Perritt Capital Management Inc. bought a new stake in shares of MAG Silver during the 1st quarter worth about $26,000. Gamco Investors INC. ET AL raised its position in shares of 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 in the last quarter. Private Advisor Group LLC lifted its stake in shares of MAG Silver by 29.0% in the 1st quarter. Private Advisor Group LLC now owns 32,230 shares of the company’s stock worth $341,000 after acquiring an additional 7,244 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings 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 valued at $1,345,000 after acquiring an additional 9,173 shares in the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

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.