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

Shares of MAG Silver Corp. (NYSEAMERICAN:MAGGet Free Report) have received a consensus recommendation of “Moderate Buy” from the four brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $18.00.

Several research analysts have issued reports on the stock. HC Wainwright raised their price objective on shares of MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Scotiabank lifted their target price on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th.

Read Our Latest Stock Report on MAG Silver

Institutional Trading of MAG Silver

Institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its stake in shares of MAG Silver by 7.5% during the first quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock valued at $105,603,000 after buying an additional 696,140 shares during the period. Jupiter Asset Management Ltd. increased its position in shares of MAG Silver by 6.5% in the first quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock worth $26,584,000 after acquiring an additional 153,274 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of MAG Silver in the first quarter worth $22,518,000. Azarias Capital Management L.P. increased its position in shares of MAG Silver by 73.7% in the first quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock worth $14,866,000 after acquiring an additional 596,283 shares in the last quarter. Finally, TD Asset Management Inc increased its position in shares of MAG Silver by 118.3% in the second quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock worth $12,415,000 after acquiring an additional 576,156 shares in the last quarter. Hedge funds and other institutional investors own 52.50% of the company’s stock.

MAG Silver Trading Up 0.3 %

Shares of NYSEAMERICAN:MAG opened at $15.01 on Thursday. MAG Silver has a 12 month low of $8.19 and a 12 month high of $15.54. The firm has a market cap of $1.55 billion, a P/E ratio of 26.80 and a beta of 1.14.

MAG Silver (NYSEAMERICAN:MAGGet Free Report) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. Equities analysts expect that MAG Silver will post 0.68 EPS for the current fiscal year.

About MAG Silver

(Get Free Report

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.

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