MAG Silver Corp. (NYSEAMERICAN:MAG) Receives $26.17 Consensus PT from Analysts

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have been given a consensus recommendation of “Buy” by the eight ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $26.17.

MAG has been the subject of a number of research reports. BMO Capital Markets dropped their target price on MAG Silver from C$24.00 to C$23.50 and set a “market perform” rating for the company in a report on Wednesday, January 5th. TD Securities assumed coverage on MAG Silver in a research note on Monday, December 6th. They issued a “buy” rating for the company. Zacks Investment Research raised MAG Silver from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a research note on Friday, October 15th. Finally, Raymond James dropped their price target on MAG Silver from C$28.50 to C$28.00 and set an “outperform” rating for the company in a research note on Tuesday, November 30th.

MAG stock traded down $0.22 during midday trading on Friday, reaching $15.01. 276,934 shares of the company were exchanged, compared to its average volume of 363,103. MAG Silver has a one year low of $14.15 and a one year high of $24.43. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 187.65 and a beta of 1.17.

MAG Silver (NYSEAMERICAN:MAG) last posted its earnings results on Monday, November 15th. The company reported ($0.02) earnings per share for the quarter. Research analysts expect that MAG Silver will post -0.01 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. LPL Financial LLC bought a new stake in shares of MAG Silver during the third quarter worth about $179,000. Millennium Management LLC bought a new stake in shares of MAG Silver during the third quarter worth about $1,454,000. Cubist Systematic Strategies LLC bought a new stake in shares of MAG Silver during the third quarter worth about $172,000. Guggenheim Capital LLC grew its holdings in shares of MAG Silver by 6.3% during the third quarter. Guggenheim Capital LLC now owns 107,531 shares of the company’s stock worth $1,742,000 after purchasing an additional 6,376 shares during the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of MAG Silver by 0.4% during the third quarter. Royal Bank of Canada now owns 1,934,268 shares of the company’s stock worth $31,335,000 after purchasing an additional 7,077 shares during the last quarter. Hedge funds and other institutional investors own 41.06% of the company’s stock.

About MAG Silver

MAG Silver Corp. operates as a Canadian development and exploration company, which focuses 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 (44%), being developed with Fresnillo Plc (56%), the Operator.

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Analyst Recommendations for MAG Silver (NYSEAMERICAN:MAG)

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