Brokerages Set MAG Silver Corp. (NYSEAMERICAN:MAG) Price Target at $18.00

MAG Silver Corp. (NYSEAMERICAN:MAG) has received an average rating of “Buy” from the four brokerages that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have covered the stock in the last year is $18.00.

A number of equities analysts have issued reports on MAG shares. Stifel Nicolaus cut their target price on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, March 20th. Scotiabank raised shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and cut their target price for the stock from $15.00 to $13.50 in a report on Thursday, March 28th. StockNews.com raised shares of MAG Silver to a “sell” rating in a report on Wednesday, March 27th. Finally, HC Wainwright cut their target price on shares of MAG Silver from $19.50 to $16.00 and set a “buy” rating on the stock in a report on Thursday, April 4th.

Institutional Investors Weigh In On MAG Silver

A number of hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp increased its stake in shares of MAG Silver by 4.4% during the third quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock valued at $101,069,000 after acquiring an additional 406,335 shares during the period. Quadrature Capital Ltd acquired a new position in shares of MAG Silver during the third quarter valued at approximately $127,000. Oppenheimer & Co. Inc. increased its stake in shares of MAG Silver by 1.9% during the third quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company’s stock valued at $3,745,000 after acquiring an additional 6,895 shares during the period. Invesco Ltd. increased its stake in shares of 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 period. Finally, Toronto Dominion Bank increased its stake in shares of MAG Silver by 11.7% during the third quarter. Toronto Dominion Bank now owns 49,634 shares of the company’s stock valued at $515,000 after acquiring an additional 5,206 shares during the period. Institutional investors own 52.50% of the company’s stock.

MAG Silver Trading Up 4.0 %

Shares of MAG stock opened at $12.14 on Thursday. MAG Silver has a one year low of $8.19 and a one year high of $13.70. The stock has a market cap of $1.25 billion, a PE ratio of 25.82 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings results on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. As a group, analysts anticipate that MAG Silver will post 0.47 EPS for the current year.

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.