MAG Silver (NYSEAMERICAN:MAG) Raised to “Sell” at StockNews.com

StockNews.com upgraded shares of MAG Silver (NYSEAMERICAN:MAG) to a sell rating in a research report sent to investors on Wednesday.

A number of other analysts also recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of MAG Silver from $20.00 to $19.00 and set a buy rating for the company in a report on Wednesday, March 20th. HC Wainwright reissued a buy rating and set a $18.50 price target (down previously from $19.50) on shares of MAG Silver in a research report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $19.13.

MAG Silver Stock Up 10.0 %

NYSEAMERICAN:MAG opened at $9.91 on Wednesday. The company has a market cap of $1.02 billion, a P/E ratio of 21.09 and a beta of 1.13. MAG Silver has a 1-year low of $8.19 and a 1-year high of $14.42.

MAG Silver (NYSEAMERICAN:MAG) last posted its earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. As a group, equities research analysts forecast that MAG Silver will post 0.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Natixis bought a new position in MAG Silver in the fourth quarter valued at about $34,000. Geneos Wealth Management Inc. boosted its stake in shares of MAG Silver by 89.6% in 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 stake in shares of MAG Silver during the 4th quarter valued at approximately $55,000. BNP Paribas Financial Markets acquired a new position in MAG Silver during the 4th quarter worth approximately $61,000. Finally, Chilton Capital Management LLC bought a new position in MAG Silver in the 1st quarter valued at approximately $78,000. 52.50% of the stock is owned by institutional investors.

About MAG Silver

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.