MAG Silver (NYSEAMERICAN:MAG) Price Target Lowered to C$30.00 at Stifel Nicolaus

MAG Silver (NYSEAMERICAN:MAGGet Rating) had its target price decreased by stock analysts at Stifel Nicolaus from C$30.50 to C$30.00 in a report released on Wednesday, The Fly reports.

A number of other brokerages also recently weighed in on MAG. National Bank Financial lowered their price target on MAG Silver from C$30.00 to C$28.25 in a report on Wednesday, April 20th. Scotiabank cut MAG Silver from a “sector outperform” rating to a “sector perform” rating in a report on Friday, January 21st. They noted that the move was a valuation call. BMO Capital Markets lowered their price objective on MAG Silver from C$23.50 to C$20.50 in a research note on Friday, January 28th. Raymond James increased their price target on MAG Silver from C$28.00 to C$29.00 in a research report on Wednesday, April 20th. Finally, HC Wainwright cut their price target on MAG Silver from $22.00 to $21.50 and set a “buy” rating on the stock in a research note on Monday, April 4th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.89.

Shares of MAG traded down $0.02 during mid-day trading on Wednesday, hitting $14.11. The stock had a trading volume of 57,246 shares, compared to its average volume of 506,486. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 176.40 and a beta of 1.10. MAG Silver has a fifty-two week low of $13.09 and a fifty-two week high of $24.13.

MAG Silver (NYSEAMERICAN:MAGGet Rating) last announced its earnings results on Thursday, March 31st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.05.

A number of large investors have recently made changes to their positions in MAG. Sprott Inc. lifted its holdings in shares of MAG Silver by 4.5% in the fourth quarter. Sprott Inc. now owns 4,982,345 shares of the company’s stock valued at $78,111,000 after purchasing an additional 213,242 shares in the last quarter. ETF Managers Group LLC lifted its holdings in shares of MAG Silver by 52.7% in the fourth quarter. ETF Managers Group LLC now owns 4,358,743 shares of the company’s stock valued at $67,502,000 after purchasing an additional 1,505,098 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of MAG Silver by 3.3% in the fourth quarter. First Eagle Investment Management LLC now owns 3,465,021 shares of the company’s stock valued at $54,319,000 after purchasing an additional 111,693 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of MAG Silver by 2.1% in the third quarter. Jupiter Asset Management Ltd. now owns 3,228,493 shares of the company’s stock valued at $52,065,000 after purchasing an additional 66,526 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of MAG Silver by 21.4% in the third quarter. Mackenzie Financial Corp now owns 1,971,417 shares of the company’s stock valued at $31,870,000 after purchasing an additional 346,924 shares in the last quarter. Institutional investors and hedge funds 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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