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

MAG Silver Corp. (NYSEAMERICAN:MAG) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $18.38.

A number of equities analysts have commented on MAG shares. Roth Mkm cut shares of MAG Silver from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $17.00 to $17.50 in a research note on Thursday, October 24th. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, HC Wainwright increased their price objective on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th.

MAG Silver Trading Up 0.6 %

NYSEAMERICAN:MAG opened at $15.17 on Friday. MAG Silver has a 1 year low of $8.19 and a 1 year high of $18.27. The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 21.37 and a beta of 1.08.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. On average, analysts predict that MAG Silver will post 0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp increased its stake 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 purchasing an additional 467,817 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in MAG Silver by 199.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock valued at $5,374,000 after buying an additional 254,553 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in MAG Silver by 69.1% in the third quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock worth $6,407,000 after acquiring an additional 186,445 shares in the last quarter. Mackenzie Financial Corp grew 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. Finally, PCJ Investment Counsel Ltd. increased its holdings 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 acquiring an additional 101,870 shares in the last quarter. Institutional investors own 52.50% of the company’s stock.

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.