MAG Silver Corp. (NYSEAMERICAN:MAG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have been assigned an average rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $18.38.

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

MAG Silver Stock Performance

Shares of NYSEAMERICAN MAG opened at $14.04 on Friday. MAG Silver has a twelve month low of $8.19 and a twelve month high of $18.27. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 19.77 and a beta of 1.07.

MAG Silver (NYSEAMERICAN:MAG) last posted 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. Research analysts forecast that MAG Silver will post 0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On MAG Silver

A number of institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of MAG Silver by 69.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock worth $6,407,000 after buying an additional 186,445 shares during the last quarter. Tidal Investments LLC lifted its position in MAG Silver by 3.6% during the third quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock valued at $39,453,000 after purchasing an additional 98,312 shares in the last quarter. Barclays PLC lifted its position in MAG Silver by 211.5% during the third quarter. Barclays PLC now owns 30,780 shares of the company’s stock valued at $432,000 after purchasing an additional 20,899 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in MAG Silver during the third quarter valued at $390,000. Finally, DF Dent & Co. Inc. purchased a new position in MAG Silver during the third quarter valued at $140,000. 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.