MAG Silver (NYSEAMERICAN:MAG) was upgraded by TD Securities from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
Several other brokerages have also issued reports on MAG. National Bank Financial reaffirmed an “outperform overweight” rating on shares of MAG Silver in a research report on Thursday, August 5th. Zacks Investment Research raised MAG Silver from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research report on Friday, October 15th. Finally, Raymond James increased their price target on MAG Silver from C$27.00 to C$28.50 and gave the stock an “outperform” rating in a report on Wednesday, November 17th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $26.57.
Shares of NYSEAMERICAN:MAG opened at $15.54 on Tuesday. The firm has a market cap of $1.48 billion, a P/E ratio of 194.27 and a beta of 1.12. MAG Silver has a 12-month low of $14.15 and a 12-month high of $24.43.
MAG Silver (NYSEAMERICAN:MAG) last announced its earnings results on Monday, November 15th. The company reported ($0.02) earnings per share (EPS) for the quarter. On average, equities research analysts anticipate that MAG Silver will post -0.01 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of MAG. Price T Rowe Associates Inc. MD acquired a new stake in shares of MAG Silver in the 2nd quarter valued at about $37,579,000. Equinox Partners Investment Management LLC acquired a new stake in shares of MAG Silver in the 3rd quarter valued at about $21,661,000. Jupiter Asset Management Ltd. grew its stake in shares of MAG Silver by 32.2% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 3,161,967 shares of the company’s stock valued at $66,135,000 after buying an additional 770,312 shares during the period. Van ECK Associates Corp grew its stake in shares of MAG Silver by 16.7% in the 2nd quarter. Van ECK Associates Corp now owns 4,766,109 shares of the company’s stock valued at $99,707,000 after buying an additional 681,416 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of MAG Silver by 21.4% in the 3rd quarter. Mackenzie Financial Corp now owns 1,971,417 shares of the company’s stock valued at $31,870,000 after buying an additional 346,924 shares during the period. Hedge funds and other institutional investors own 43.33% of the company’s stock.
About MAG Silver
MAG Silver Corp. operates as a Canadian development and exploration company, which focuses on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district scale, silver-dominant projects in the Americas. Its principal focus and asset is the Juanicipio Project (44%), being developed with Fresnillo Plc (56%), the Operator.
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