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

MAG Silver Corp. (NYSEAMERICAN:MAG) has been assigned an average rating of “Buy” from the four brokerages that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $18.00.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Natixis acquired a new position in MAG Silver during the 4th quarter worth $34,000. Geneos Wealth Management Inc. lifted 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 worth $54,000 after buying an additional 1,600 shares in the last quarter. Deutsche Bank AG acquired a new position in MAG Silver during the 4th quarter worth $55,000. BNP Paribas Financial Markets acquired a new position in MAG Silver during the 4th quarter worth $61,000. Finally, Chilton Capital Management LLC acquired a new position in MAG Silver during the 1st quarter worth $78,000. 52.50% of the stock is owned by institutional investors and hedge funds.

MAG Silver Stock Performance

Shares of MAG opened at $11.93 on Thursday. MAG Silver has a 12-month low of $8.19 and a 12-month high of $13.70. The stock has a market cap of $1.23 billion, a P/E ratio of 25.37 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. Analysts anticipate that MAG Silver will post 0.47 EPS for the current fiscal year.

MAG Silver Company Profile

MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.