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

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report) have been given an average rating of "Moderate Buy" by the six ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $18.38.

Several research firms have weighed in on MAG. StockNews.com raised MAG Silver from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Scotiabank boosted their target price on shares of MAG Silver from $14.50 to $15.50 and gave the stock a "sector outperform" rating in a report on Monday, August 19th. HC Wainwright increased their price target on shares of MAG Silver from $18.00 to $20.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Roth Mkm lowered shares of MAG Silver from a "buy" rating to a "neutral" rating and boosted their price objective for the stock from $17.00 to $17.50 in a research note on Thursday, October 24th. Finally, Roth Capital downgraded shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Thursday, October 24th.

Hedge Funds Weigh In On MAG Silver

Institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC grew its position in MAG Silver by 3.6% in the 3rd quarter. Tidal Investments LLC now owns 2,810,051 shares of the company's stock valued at $39,453,000 after purchasing an additional 98,312 shares during the period. Barclays PLC lifted its stake in shares of MAG Silver by 211.5% in the third quarter. Barclays PLC now owns 30,780 shares of the company's stock valued at $432,000 after buying an additional 20,899 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of MAG Silver during the third quarter valued at about $390,000. DF Dent & Co. Inc. bought a new stake in shares of MAG Silver during the third quarter worth about $140,000. Finally, National Bank of Canada FI raised its holdings in shares of MAG Silver by 12.0% in the 3rd quarter. National Bank of Canada FI now owns 225,802 shares of the company's stock worth $3,171,000 after acquiring an additional 24,185 shares during the last quarter. Institutional investors and hedge funds own 52.50% of the company's stock.

MAG Silver Price Performance

Shares of NYSEAMERICAN:MAG traded down $0.09 during mid-day trading on Tuesday, reaching $14.76. The stock had a trading volume of 399,876 shares, compared to its average volume of 711,651. MAG Silver has a twelve month low of $8.19 and a twelve month high of $18.27. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 20.79 and a beta of 1.07.

MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. Equities research analysts expect that MAG Silver will post 0.75 earnings per share for the current year.

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.