MAG Silver Corp. (NYSEAMERICAN:MAG) Receives Average Recommendation of “Buy” from Brokerages

Shares of MAG Silver Corp. (NYSEAMERICAN:MAGGet Rating) have been given an average rating of “Hold” by the nine research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $27.18.

Several research firms recently issued reports on MAG. Stifel Nicolaus decreased their target price on MAG Silver from C$30.50 to C$30.00 in a research note on Wednesday, April 27th. Zacks Investment Research raised MAG Silver from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 6th. TD Securities decreased their target price on MAG Silver from C$31.00 to C$28.00 in a research note on Wednesday, May 18th. HC Wainwright decreased their target price 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. Finally, National Bank Financial reduced their price target on MAG Silver from C$30.00 to C$28.25 in a research report on Wednesday, April 20th.

A number of large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in MAG Silver by 5.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,903,880 shares of the company’s stock worth $30,851,000 after buying an additional 97,460 shares during the last quarter. Gabelli Funds LLC acquired a new stake in MAG Silver during the 1st quarter worth approximately $2,991,000. Sprott Inc. lifted its position in MAG Silver by 2.0% during the 1st quarter. Sprott Inc. now owns 5,080,197 shares of the company’s stock worth $82,171,000 after acquiring an additional 97,852 shares during the period. Guggenheim Capital LLC lifted its position in MAG Silver by 13.8% during the 1st quarter. Guggenheim Capital LLC now owns 87,670 shares of the company’s stock worth $1,418,000 after acquiring an additional 10,616 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in MAG Silver by 89.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company’s stock worth $54,000 after acquiring an additional 1,600 shares during the period. Hedge funds and other institutional investors own 48.55% of the company’s stock.

Shares of NYSEAMERICAN:MAG opened at $15.07 on Monday. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 188.40 and a beta of 1.10. MAG Silver has a 52-week low of $12.05 and a 52-week high of $24.13.

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

MAG Silver Company Profile (Get Rating)

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

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Analyst Recommendations for MAG Silver (NYSEAMERICAN:MAG)

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