MAG Silver Corp. (NYSEAMERICAN:MAG) Receives $18.25 Average Price Target from Brokerages

MAG Silver Corp. (NYSEAMERICAN:MAG) has received a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $18.25.

Several brokerages have recently weighed in on MAG. StockNews.com upgraded shares of MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Scotiabank upgraded MAG Silver from a “sector perform” rating to a “sector outperform” rating and decreased their price target for the stock from $15.00 to $13.50 in a research report on Thursday, March 28th. Stifel Nicolaus cut their price target on 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 raised their price objective on shares of MAG Silver from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Ventum Cap Mkts cut shares of MAG Silver from a “buy” rating to a “neutral” rating in a research note on Friday, May 3rd.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MAG. Van ECK Associates Corp raised its position in MAG Silver by 4.4% during the 3rd quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock worth $101,069,000 after purchasing an additional 406,335 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of MAG Silver by 6.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock worth $665,000 after buying an additional 3,950 shares during the period. Quadrature Capital Ltd bought a new position in MAG Silver during the third quarter worth $127,000. Oppenheimer & Co. Inc. lifted its holdings in MAG Silver by 1.9% in the third quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company’s stock valued at $3,745,000 after buying an additional 6,895 shares during the period. Finally, Invesco Ltd. boosted its position in MAG Silver by 8.8% during the third quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock valued at $15,202,000 after acquiring an additional 118,211 shares during the last quarter. Institutional investors own 52.50% of the company’s stock.

MAG Silver Price Performance

Shares of NYSEAMERICAN:MAG opened at $12.60 on Monday. MAG Silver has a 12-month low of $8.19 and a 12-month high of $13.39. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 26.80 and a beta of 1.10.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. Equities analysts forecast that MAG Silver will post 0.55 EPS for the current fiscal year.

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.