MAG Silver Corp (MAG) Receives $20.50 Average Price Target from Brokerages

Shares of MAG Silver Corp (NYSEAMERICAN:MAG) have earned a consensus recommendation of “Buy” from the nine research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $20.50.

Several equities research analysts have commented on MAG shares. Zacks Investment Research downgraded shares of MAG Silver from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. HC Wainwright reaffirmed a “buy” rating on shares of MAG Silver in a report on Wednesday, November 8th. BidaskClub downgraded shares of MAG Silver from a “sell” rating to a “strong sell” rating in a report on Wednesday, November 15th. Raymond James Financial reaffirmed an “outperform” rating on shares of MAG Silver in a report on Tuesday, November 21st. Finally, BMO Capital Markets started coverage on shares of MAG Silver in a report on Friday, November 17th. They set a “buy” rating on the stock.

Shares of MAG Silver (NYSEAMERICAN MAG) traded down $0.39 during trading hours on Friday, hitting $11.03. 297,183 shares of the company were exchanged, compared to its average volume of 272,774. The stock has a market cap of $964.50, a P/E ratio of -17.57 and a beta of 0.40. MAG Silver has a 52 week low of $10.05 and a 52 week high of $16.78.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings results on Monday, November 13th. The company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01.

Institutional investors and hedge funds have recently made changes to their positions in the company. Stifel Financial Corp bought a new stake in shares of MAG Silver during the third quarter valued at about $137,000. Commerzbank Aktiengesellschaft FI bought a new position in shares of MAG Silver in the fourth quarter worth approximately $158,000. Quantbot Technologies LP bought a new position in shares of MAG Silver in the second quarter worth approximately $183,000. BlueCrest Capital Management Ltd bought a new position in shares of MAG Silver in the second quarter worth approximately $196,000. Finally, Bank of Nova Scotia increased its position in shares of MAG Silver by 90.0% in the second quarter. Bank of Nova Scotia now owns 21,154 shares of the company’s stock worth $276,000 after purchasing an additional 10,019 shares during the last quarter.

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About MAG Silver

MAG Silver Corp. is a mineral exploration and development company. The Company is focused on the acquisition, exploration and development of projects located within the Mexican silver belt. The Company operates through the exploration of mineral properties in Mexico segment. The Company’s projects include Juanicipio Property, Cinco De Mayo Property and Guigui Property.

Analyst Recommendations for MAG Silver (NYSEAMERICAN:MAG)

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