MAG Silver (NYSEAMERICAN:MAG) Lowered to Sell Rating by TD Securities

MAG Silver (NYSEAMERICAN:MAG) was downgraded by analysts at TD Securities from a “buy” rating to a “sell” rating in a report issued on Thursday,Finviz reports.

Several other research firms also recently weighed in on MAG. Roth Capital set a $16.00 price target on shares of MAG Silver in a research note on Tuesday, March 25th. Canaccord Genuity Group lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Monday, May 12th. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of MAG Silver in a research note on Thursday, April 24th. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research report on Monday, March 31st. Finally, Roth Mkm reduced their price target on shares of MAG Silver from $16.50 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $18.13.

MAG Silver Stock Up 1.1%

NYSEAMERICAN:MAG opened at $18.63 on Thursday. The company has a fifty day moving average of $15.76 and a 200-day moving average of $15.45. The firm has a market capitalization of $1.93 billion, a P/E ratio of 26.24 and a beta of 1.09. MAG Silver has a twelve month low of $11.29 and a twelve month high of $19.17.

Institutional Trading of MAG Silver

Several hedge funds and other institutional investors have recently modified their holdings of the business. First Eagle Investment Management LLC grew its stake in MAG Silver by 46.4% in the 4th quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company’s stock valued at $106,379,000 after buying an additional 2,486,538 shares in the last quarter. Sprott Inc. lifted its position in shares of MAG Silver by 8.5% during the fourth quarter. Sprott Inc. now owns 2,649,507 shares of the company’s stock worth $36,004,000 after acquiring an additional 208,252 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of MAG Silver by 11.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,455,720 shares of the company’s stock worth $37,350,000 after acquiring an additional 258,379 shares during the period. Royal Bank of Canada grew its position in shares of MAG Silver by 8.6% in the first quarter. Royal Bank of Canada now owns 1,660,583 shares of the company’s stock valued at $25,374,000 after purchasing an additional 131,813 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of MAG Silver by 20.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,399,405 shares of the company’s stock valued at $21,290,000 after purchasing an additional 237,800 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.