MAG Silver (NYSEAMERICAN:MAG) Downgraded by Roth Mkm to “Neutral”

Roth Mkm lowered shares of MAG Silver (NYSEAMERICAN:MAG) from a buy rating to a neutral rating in a report released on Thursday morning, MarketBeat Ratings reports. They currently have $17.50 target price on the stock, up from their previous target price of $17.00.

A number of other brokerages have also recently commented on MAG. Scotiabank lifted their price objective on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research note on Monday, August 19th. HC Wainwright increased their price target on MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, August 5th. 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, MAG Silver presently has a consensus rating of “Hold” and an average target price of $17.88.

MAG Silver Stock Up 0.3 %

MAG opened at $17.85 on Thursday. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 30.78 and a beta of 1.15. MAG Silver has a 1-year low of $8.19 and a 1-year high of $18.01.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. As a group, equities research analysts forecast that MAG Silver will post 0.69 EPS for the current year.

Institutional Trading of MAG Silver

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Perritt Capital Management Inc. bought a new position in MAG Silver in the first quarter valued at approximately $26,000. Addenda Capital Inc. bought a new position in MAG Silver in the 2nd quarter valued at approximately $123,000. International Assets Investment Management LLC acquired a new stake in MAG Silver during the 3rd quarter worth approximately $148,000. Susquehanna Fundamental Investments LLC bought a new stake in MAG Silver during the 2nd quarter worth approximately $161,000. Finally, Veracity Capital LLC raised its stake in shares of MAG Silver by 16.8% during the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after acquiring an additional 2,396 shares during the last quarter. Institutional investors own 52.50% of the company’s stock.

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.