MAG Silver Corp. (NYSEAMERICAN:MAG) has been assigned an average recommendation of “Buy” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $26.64.
Several equities analysts have commented on MAG shares. National Bank Financial reaffirmed an “outperform overweight” rating on shares of MAG Silver in a report on Thursday, August 5th. Raymond James upped their price objective on MAG Silver from C$27.00 to C$28.50 and gave the company an “outperform” rating in a research note on Wednesday, November 17th. Finally, Zacks Investment Research upgraded MAG Silver from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research note on Friday, October 15th.
Shares of NYSEAMERICAN MAG traded down $0.05 during trading hours on Thursday, hitting $17.25. 553,037 shares of the company’s stock were exchanged, compared to its average volume of 567,937. MAG Silver has a 1-year low of $14.15 and a 1-year high of $24.43. The stock has a market capitalization of $1.64 billion, a PE ratio of 215.65 and a beta of 1.12.
Several hedge funds have recently bought and sold shares of the company. Citigroup Inc. raised its stake in MAG Silver by 883.0% during the 1st quarter. Citigroup Inc. now owns 6,635 shares of the company’s stock worth $100,000 after buying an additional 5,960 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in MAG Silver during the 3rd quarter worth $172,000. LPL Financial LLC acquired a new stake in MAG Silver during the 3rd quarter worth $179,000. Commonwealth Equity Services LLC acquired a new stake in MAG Silver during the 2nd quarter worth $200,000. Finally, Juncture Wealth Strategies LLC acquired a new stake in MAG Silver during the 2nd quarter worth $237,000. 43.33% of the stock is currently owned by institutional investors.
About MAG Silver
MAG Silver Corp. is an exploration and development company focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district scale, silver-dominant projects in the Americas. Its principal focus and asset is the Juanicipio Project, being developed in a Joint Venture partnership with Fresnillo Plc, the Operator.
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