MAG Silver Corp. (NYSEAMERICAN:MAG) Receives Average Rating of “Buy” from Analysts

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have been given an average recommendation of “Buy” by the four ratings firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.00.

Several equities research analysts recently issued reports on MAG shares. StockNews.com upgraded shares of MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. HC Wainwright lowered their price target on shares of MAG Silver from $19.50 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 4th. Stifel Nicolaus lowered their price target on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 20th. Finally, Scotiabank raised shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and lowered their price target for the company from $15.00 to $13.50 in a report on Thursday, March 28th.

MAG Silver Price Performance

Shares of NYSEAMERICAN MAG opened at $12.09 on Thursday. The firm has a market capitalization of $1.25 billion, a P/E ratio of 25.72 and a beta of 1.15. MAG Silver has a 1-year low of $8.19 and a 1-year high of $14.42.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings data on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Sell-side analysts expect that MAG Silver will post 0.47 earnings per share for the current year.

Hedge Funds Weigh In On MAG Silver

Hedge funds have recently modified their holdings of the business. Advisor Group Holdings Inc. raised its stake in MAG Silver by 73.4% during the first quarter. Advisor Group Holdings Inc. now owns 24,835 shares of the company’s stock worth $394,000 after buying an additional 10,513 shares during the last quarter. Cetera Advisor Networks LLC bought a new stake in MAG Silver in the first quarter valued at $219,000. BlackRock Inc. increased its stake in MAG Silver by 1.0% in the first quarter. BlackRock Inc. now owns 670,578 shares of the company’s stock valued at $10,843,000 after purchasing an additional 6,578 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in MAG Silver by 115.8% in the first quarter. Dimensional Fund Advisors LP now owns 307,218 shares of the company’s stock valued at $4,968,000 after purchasing an additional 164,859 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of MAG Silver by 7.9% during the first quarter. Vanguard Group Inc. now owns 54,836 shares of the company’s stock worth $886,000 after acquiring an additional 4,024 shares in the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Company Profile

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