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

MAG Silver Corp. (NYSEAMERICAN:MAG) has received a consensus rating of “Buy” from the four research firms that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $18.00.

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

MAG Silver Stock Up 4.0 %

Shares of NYSEAMERICAN:MAG opened at $12.14 on Thursday. MAG Silver has a twelve month low of $8.19 and a twelve month high of $13.70. The company has a market cap of $1.25 billion, a P/E ratio of 25.82 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last announced its earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. On average, equities research analysts forecast that MAG Silver will post 0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MAG Silver

Several large investors have recently added to or reduced their stakes in the company. Natixis acquired a new stake in MAG Silver during the 4th quarter valued at $34,000. Geneos Wealth Management Inc. increased its holdings in MAG Silver by 89.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company’s stock valued at $54,000 after purchasing an additional 1,600 shares in the last quarter. Deutsche Bank AG bought a new position in MAG Silver in the 4th quarter valued at $55,000. BNP Paribas Financial Markets bought a new position in MAG Silver in the 4th quarter valued at $61,000. Finally, Chilton Capital Management LLC bought a new position in MAG Silver in the 1st quarter valued at $78,000. Institutional investors and hedge funds 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.