Analysts Set MAG Silver Corp. (NYSEAMERICAN:MAG) PT at $18.38

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have been given an average rating of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $18.38.

Several equities research analysts have recently commented on the company. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. HC Wainwright lifted their price target on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Roth Mkm downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating and increased their target price for the company from $17.00 to $17.50 in a report on Thursday, October 24th.

MAG Silver Stock Performance

Shares of NYSEAMERICAN MAG opened at $13.87 on Tuesday. The firm has a market cap of $1.43 billion, a P/E ratio of 19.54 and a beta of 1.07. MAG Silver has a 12-month low of $8.19 and a 12-month high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Equities research analysts predict that MAG Silver will post 0.75 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 MAG. Allspring Global Investments Holdings LLC bought a new stake in MAG Silver in the second quarter worth about $9,932,000. TD Asset Management Inc increased its stake in shares of MAG Silver by 118.3% during the 2nd quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock worth $12,415,000 after purchasing an additional 576,156 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of MAG Silver by 4.8% in the 3rd quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after purchasing an additional 467,817 shares during the period. Intact Investment Management Inc. purchased a new position in MAG Silver in the second quarter valued at approximately $3,151,000. Finally, The Manufacturers Life Insurance Company grew its holdings in MAG Silver by 199.7% during 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 during the period. 52.50% of the stock is owned by hedge funds and other 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.