MAG Silver Corp. (NYSEAMERICAN:MAG) Receives $18.38 Average Price Target from Brokerages

MAG Silver Corp. (NYSEAMERICAN:MAG) has earned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $18.38.

MAG has been the topic of a number of research reports. HC Wainwright raised their price target on MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Capital cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Roth Mkm lowered shares of MAG Silver from a “buy” rating to a “neutral” rating and boosted their target price for the company from $17.00 to $17.50 in a research report on Thursday, October 24th.

MAG Silver Stock Up 0.6 %

NYSEAMERICAN MAG opened at $15.17 on Friday. The stock has a market capitalization of $1.57 billion, a P/E ratio of 21.37 and a beta of 1.08. MAG Silver has a one year low of $8.19 and a one year high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. On average, sell-side analysts expect that MAG Silver will post 0.75 EPS for the current year.

Institutional Investors Weigh In On MAG Silver

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in shares of MAG Silver by 69.1% in the third quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock worth $6,407,000 after purchasing an additional 186,445 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of MAG Silver by 3.6% during the 3rd quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock worth $39,453,000 after acquiring an additional 98,312 shares in the last quarter. Barclays PLC boosted its position in shares of MAG Silver by 211.5% during the 3rd quarter. Barclays PLC now owns 30,780 shares of the company’s stock valued at $432,000 after acquiring an additional 20,899 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of MAG Silver in the third quarter valued at $390,000. Finally, DF Dent & Co. Inc. bought a new stake in MAG Silver in the third quarter worth $140,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.