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

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $18.38.

Several brokerages have issued reports on MAG. Roth Capital cut MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. HC Wainwright upped their price target on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a report 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 note on Thursday, October 24th.

MAG Silver Price Performance

MAG stock opened at $14.97 on Friday. The company has a market cap of $1.55 billion, a PE ratio of 21.08 and a beta of 1.07. MAG Silver has a twelve month low of $8.19 and a twelve month high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. On average, analysts anticipate that MAG Silver will post 0.75 EPS for the current year.

Hedge Funds Weigh In On MAG Silver

Several institutional investors have recently modified their holdings of MAG. Capital Performance Advisors LLP acquired a new stake in MAG Silver in the 3rd quarter valued at approximately $28,000. Veracity Capital LLC increased its holdings in shares of MAG Silver by 16.8% during the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after purchasing an additional 2,396 shares during the period. Quantbot Technologies LP bought a new stake in shares of MAG Silver during the third quarter valued at about $52,000. Pekin Hardy Strauss Inc. acquired a new stake in MAG Silver in the third quarter worth about $140,000. Finally, DF Dent & Co. Inc. bought a new position in MAG Silver in the 3rd quarter valued at about $140,000. Institutional investors own 52.50% of the company’s stock.

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.