MAG Silver (NYSEAMERICAN:MAG) Downgraded by Ventum Cap Mkts

Ventum Cap Mkts downgraded shares of MAG Silver (NYSEAMERICAN:MAG) from a buy rating to a neutral rating in a research note published on Friday, Zacks.com reports.

MAG has been the subject of several other research reports. Stifel Nicolaus reduced their target price 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. Scotiabank upgraded shares of MAG Silver from a sector perform rating to a sector outperform rating and reduced their price objective for the stock from $15.00 to $13.50 in a research note on Thursday, March 28th. HC Wainwright lifted their target price on MAG Silver from $16.00 to $17.00 and gave the company a buy rating in a research report on Thursday, April 25th. Finally, StockNews.com raised MAG Silver to a sell rating in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $18.25.

MAG Silver Price Performance

MAG stock opened at $12.64 on Friday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 26.89 and a beta of 1.10. MAG Silver has a 1 year low of $8.19 and a 1 year high of $13.40.

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

Institutional Investors Weigh In On MAG Silver

Several hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in MAG Silver by 2.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,542,545 shares of the company’s stock valued at $26,403,000 after purchasing an additional 58,849 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of MAG Silver by 9.6% during the 3rd quarter. CIBC Asset Management Inc now owns 88,229 shares of the company’s stock worth $915,000 after buying an additional 7,753 shares during the period. Lynwood Capital Management Inc. acquired a new position in MAG Silver in the 3rd quarter valued at about $517,000. Privium Fund Management B.V. raised its holdings in MAG Silver by 44.9% in the 3rd quarter. Privium Fund Management B.V. now owns 15,500 shares of the company’s stock valued at $161,000 after acquiring an additional 4,800 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in MAG Silver by 1.9% during the third quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company’s stock worth $3,745,000 after acquiring an additional 6,895 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors and hedge funds.

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.