MAG Silver Corp. (NYSEAMERICAN:MAG) Receives $19.13 Average Price Target from Analysts

MAG Silver Corp. (NYSEAMERICAN:MAG) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $19.38.

MAG has been the subject of a number of recent research reports. Stifel Nicolaus increased their price objective on MAG Silver from $20.25 to $20.50 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Scotiabank increased their price objective on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research report on Monday. HC Wainwright increased their price objective on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Finally, Ventum Cap Mkts downgraded MAG Silver from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd.

Institutional Trading of MAG Silver

Hedge funds have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC acquired a new position in shares of MAG Silver in the second quarter worth $161,000. Mackenzie Financial Corp increased its stake in shares of MAG Silver by 310.5% in the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock worth $2,224,000 after acquiring an additional 144,007 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of MAG Silver by 67.1% in the second quarter. Toronto Dominion Bank now owns 33,207 shares of the company’s stock worth $388,000 after acquiring an additional 13,340 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake 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 acquiring an additional 19,253 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of MAG Silver by 12.2% in the second quarter. Gabelli Funds LLC now owns 459,000 shares of the company’s stock worth $5,357,000 after acquiring an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 52.50% of the company’s stock.

MAG Silver Price Performance

MAG opened at $13.59 on Wednesday. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 24.27 and a beta of 1.12. MAG Silver has a 1-year low of $8.19 and a 1-year high of $14.30.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. On average, analysts predict that MAG Silver will post 0.65 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.