MAG Silver (NYSEAMERICAN:MAG) Given New C$28.25 Price Target at National Bank Financial

MAG Silver (NYSEAMERICAN:MAGGet Rating) had its price target reduced by equities research analysts at National Bank Financial from C$30.00 to C$28.25 in a note issued to investors on Wednesday, The Fly reports.

Several other brokerages have also recently weighed in on MAG. Raymond James raised their price objective on MAG Silver from C$28.00 to C$29.00 in a report on Wednesday. HC Wainwright lowered their price target on MAG Silver from $22.00 to $21.50 and set a “buy” rating on the stock in a research report on Monday, April 4th. Zacks Investment Research raised shares of MAG Silver from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 6th. Stifel Nicolaus upped their price target on shares of MAG Silver from C$29.75 to C$30.50 in a research report on Monday, March 14th. Finally, BMO Capital Markets decreased their price objective on shares of MAG Silver from C$23.50 to C$20.50 in a research report on Friday, January 28th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $25.96.

Shares of MAG Silver stock traded up $0.33 on Wednesday, hitting $17.56. 30,201 shares of the company’s stock traded hands, compared to its average volume of 504,376. MAG Silver has a one year low of $13.09 and a one year high of $24.13. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 219.53 and a beta of 1.10.

MAG Silver (NYSEAMERICAN:MAGGet Rating) last released its quarterly earnings data on Thursday, March 31st. The company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.05.

A number of institutional investors have recently made changes to their positions in the business. Citigroup Inc. boosted its stake in MAG Silver by 4,614.0% in the fourth quarter. Citigroup Inc. now owns 9,428 shares of the company’s stock valued at $148,000 after buying an additional 9,228 shares in the last quarter. Shell Asset Management Co. lifted its stake in MAG Silver by 22.0% in the 4th quarter. Shell Asset Management Co. now owns 9,971 shares of the company’s stock valued at $157,000 after purchasing an additional 1,800 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in MAG Silver in the third quarter valued at approximately $172,000. LPL Financial LLC bought a new stake in shares of MAG Silver during the third quarter worth $179,000. Finally, Condire Management LP bought a new position in shares of MAG Silver in the 4th quarter valued at $203,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

About MAG Silver (Get Rating)

MAG Silver Corp. engages in the exploration and development of silver mining properties. It also explores for gold, lead, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. The company was incorporated in 2003 and is headquartered in Vancouver, Canada.

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