MAG Silver (NYSEAMERICAN:MAG) Upgraded by StockNews.com to "Hold" Rating

MAG Silver (NYSEAMERICAN:MAG - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a research note issued on Monday.

Several other research analysts also recently weighed in on the stock. Raymond James restated an "outperform" rating on shares of MAG Silver in a report on Tuesday, March 25th. Roth Capital set a $16.00 target price on shares of MAG Silver in a report on Tuesday, March 25th. HC Wainwright raised their price target on shares of MAG Silver from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. Roth Mkm decreased their price objective on MAG Silver from $16.50 to $16.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. Finally, TD Securities upgraded MAG Silver to a "strong-buy" rating in a report on Monday, March 10th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

MAG Silver Price Performance

MAG Silver stock traded down $1.54 during mid-day trading on Monday, reaching $13.45. The stock had a trading volume of 729,902 shares, compared to its average volume of 640,956. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 18.94 and a beta of 1.09. MAG Silver has a fifty-two week low of $11.29 and a fifty-two week high of $18.27. The company has a 50-day simple moving average of $15.77.

Institutional Investors Weigh In On MAG Silver

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC grew its position in shares of MAG Silver by 46.4% in the fourth quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company's stock valued at $106,379,000 after purchasing an additional 2,486,538 shares in the last quarter. Millennium Management LLC grew its holdings in MAG Silver by 3,324.7% during the 4th quarter. Millennium Management LLC now owns 886,203 shares of the company's stock valued at $12,052,000 after buying an additional 860,326 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of MAG Silver during the fourth quarter valued at about $3,482,000. The Manufacturers Life Insurance Company lifted its holdings in shares of MAG Silver by 199.7% in the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company's stock worth $5,374,000 after buying an additional 254,553 shares in the last quarter. Finally, Sprott Inc. boosted its position in shares of MAG Silver by 8.5% in the fourth quarter. Sprott Inc. now owns 2,649,507 shares of the company's stock valued at $36,004,000 after acquiring an additional 208,252 shares during the period. 52.50% of the stock is currently owned by institutional investors.

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.