MAG Silver (NYSEAMERICAN:MAG) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of MAG Silver (NYSEAMERICAN:MAG) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

A number of other brokerages have also recently commented on MAG. Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and upped their price target for the company from $17.00 to $17.50 in a research report on Thursday. Scotiabank increased their target price on shares of MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Finally, HC Wainwright boosted their price target on shares of MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.88.

MAG Silver Trading Down 2.4 %

Shares of NYSEAMERICAN:MAG opened at $17.43 on Thursday. The stock has a market capitalization of $1.80 billion, a P/E ratio of 30.05 and a beta of 1.15. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $18.01.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MAG. Van ECK Associates Corp raised 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 purchasing an additional 696,140 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of MAG Silver by 6.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock worth $26,584,000 after buying an additional 153,274 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of MAG Silver during the 1st quarter valued at $22,518,000. Azarias Capital Management L.P. lifted its holdings in shares of MAG Silver by 73.7% during the 1st quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock worth $14,866,000 after acquiring an additional 596,283 shares during the last quarter. Finally, TD Asset Management Inc grew its position in MAG Silver by 118.3% in the second quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock worth $12,415,000 after acquiring an additional 576,156 shares in the last quarter. 52.50% of the stock is currently 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.