MAG Silver (NYSEAMERICAN:MAG) Upgraded at StockNews.com

by · The Cerbat Gem

MAG Silver (NYSEAMERICAN:MAG – Get Free Report) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

Other analysts also recently issued reports about the company. Scotiabank upped their price objective on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. HC Wainwright increased their price target on shares of MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Finally, Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $17.00 to $17.50 in a report on Thursday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.88.

Check Out Our Latest Report on MAG

MAG Silver Price Performance

NYSEAMERICAN MAG traded up $0.05 during trading hours on Thursday, hitting $17.85. The company had a trading volume of 941,845 shares, compared to its average volume of 723,508. MAG Silver has a 1-year low of $8.19 and a 1-year high of $18.01. The company has a market capitalization of $1.84 billion, a PE ratio of 30.78 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG – Get Free Report) last released its quarterly earnings results on Friday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. On average, research analysts expect that MAG Silver will post 0.69 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its position in MAG Silver by 7.5% during the first quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock worth $105,603,000 after acquiring an additional 696,140 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in MAG Silver by 6.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock valued at $26,584,000 after buying an additional 153,274 shares in the last quarter. Tidal Investments LLC acquired a new stake in MAG Silver during the 1st quarter valued at $22,518,000. Azarias Capital Management L.P. increased its position in MAG Silver by 73.7% during the first quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock worth $14,866,000 after buying an additional 596,283 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of MAG Silver by 118.3% in the second quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock worth $12,415,000 after acquiring an additional 576,156 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors and hedge funds.

About MAG Silver

(Get Free Report)

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.

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