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

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $18.38.

A number of brokerages have recently issued reports on MAG. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Scotiabank boosted their price target on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. HC Wainwright upped their price target on MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Roth Capital cut MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Roth Mkm lowered shares of 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 report on Thursday, October 24th.

Hedge Funds Weigh In On MAG Silver

A number of institutional investors and hedge funds have recently modified their holdings of MAG. Mackenzie Financial Corp grew its holdings in MAG Silver by 310.5% during the 2nd quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock valued at $2,224,000 after purchasing an additional 144,007 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of MAG Silver by 4.8% during the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after buying an additional 467,817 shares during the period. PCJ Investment Counsel Ltd. grew its stake in shares of MAG Silver by 38.1% during the third quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock valued at $5,196,000 after buying an additional 101,870 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of MAG Silver by 199.7% in the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after buying an additional 254,553 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of MAG Silver by 304.8% in the second quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock worth $299,000 after buying an additional 19,253 shares during the period. Hedge funds and other institutional investors own 52.50% of the company’s stock.

MAG Silver Price Performance

Shares of MAG stock opened at $14.83 on Tuesday. MAG Silver has a 52 week low of $8.19 and a 52 week high of $18.27. The company has a market capitalization of $1.53 billion, a PE ratio of 20.89 and a beta of 1.07.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings results 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. Equities research analysts anticipate that MAG Silver will post 0.75 EPS for the current fiscal year.

MAG Silver Company Profile

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.