MAG Silver (NYSEAMERICAN:MAG) Lowered to Neutral at Ventum Cap Mkts

MAG Silver (NYSEAMERICAN:MAG) was downgraded by investment analysts at Ventum Cap Mkts from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, Zacks.com reports.

Other equities analysts also recently issued reports about the company. Scotiabank upgraded MAG Silver from a “sector perform” rating to a “sector outperform” rating and lowered their target price for the company from $15.00 to $13.50 in a research report on Thursday, March 28th. StockNews.com raised MAG Silver to a “sell” rating in a report on Wednesday, March 27th. Stifel Nicolaus decreased their price target on MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 20th. Finally, HC Wainwright raised their price target on MAG Silver from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $18.25.

MAG Silver Trading Up 2.9 %

NYSEAMERICAN MAG opened at $12.64 on Friday. The firm has a market cap of $1.30 billion, a P/E ratio of 26.89 and a beta of 1.10. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $13.40.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. On average, equities research analysts anticipate that MAG Silver will post 0.55 EPS for the current year.

Institutional Investors Weigh In On MAG Silver

Several large investors have recently made changes to their positions in MAG. Van ECK Associates Corp increased its stake in MAG Silver by 7.5% during the first quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock worth $105,603,000 after acquiring an additional 696,140 shares during the last quarter. First Eagle Investment Management LLC increased its stake in MAG Silver by 11.2% during the fourth quarter. First Eagle Investment Management LLC now owns 6,380,120 shares of the company’s stock worth $66,402,000 after acquiring an additional 642,494 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in MAG Silver by 2.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,542,545 shares of the company’s stock worth $26,403,000 after acquiring an additional 58,849 shares during the last quarter. Jupiter Asset Management Ltd. increased its stake in MAG Silver by 1.7% during the third quarter. Jupiter Asset Management Ltd. now owns 2,364,171 shares of the company’s stock worth $24,551,000 after acquiring an additional 38,784 shares during the last quarter. Finally, Invesco Ltd. increased its stake in MAG Silver by 8.8% during the third quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock worth $15,202,000 after acquiring an additional 118,211 shares during the last quarter. 52.50% of the stock is owned by 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.