Brokerages Set MAG Silver Corp. (NYSEAMERICAN:MAG) Target Price at $26.64

MAG Silver Corp. (NYSEAMERICAN:MAG) has been given a consensus rating of “Buy” by the eight research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $26.64.

MAG has been the subject of a number of research reports. Raymond James raised their price target on shares of MAG Silver from C$27.00 to C$28.50 and gave the stock an “outperform” rating in a report on Wednesday, November 17th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of MAG Silver in a research note on Thursday, August 5th. Finally, Zacks Investment Research raised shares of MAG Silver from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a research note on Friday, October 15th.

NYSEAMERICAN MAG traded down $0.05 during trading hours on Thursday, hitting $17.25. 553,037 shares of the company’s stock were exchanged, compared to its average volume of 567,937. The stock has a market capitalization of $1.64 billion, a P/E ratio of 215.65 and a beta of 1.12. MAG Silver has a 1-year low of $14.15 and a 1-year high of $24.43.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Monday, November 15th. The company reported ($0.02) earnings per share (EPS) for the quarter. As a group, sell-side analysts predict that MAG Silver will post -0.01 earnings per share for the current year.

Several large investors have recently bought and sold shares of MAG. Citigroup Inc. increased its position in shares of MAG Silver by 883.0% during the first quarter. Citigroup Inc. now owns 6,635 shares of the company’s stock worth $100,000 after acquiring an additional 5,960 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of MAG Silver during the third quarter worth about $172,000. LPL Financial LLC bought a new stake in shares of MAG Silver during the third quarter worth about $179,000. Commonwealth Equity Services LLC bought a new stake in shares of MAG Silver during the second quarter worth about $200,000. Finally, Juncture Wealth Strategies LLC bought a new stake in shares of MAG Silver during the second quarter worth about $237,000. 43.33% of the stock is owned by institutional investors.

MAG Silver Company Profile

MAG Silver Corp. is an exploration and development company focused 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, being developed in a Joint Venture partnership with Fresnillo Plc, the Operator.

Featured Article: Dividend Yield

Analyst Recommendations for MAG Silver (NYSEAMERICAN:MAG)

Receive News & Ratings for MAG Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MAG Silver and related companies with MarketBeat.com's FREE daily email newsletter.