Several other analysts also recently issued reports on MAG. Scotiabank downgraded MAG Silver from a sector outperform rating to a sector perform rating in a research note on Friday, January 21st. They noted that the move was a valuation call. Stifel Nicolaus upped their price target on MAG Silver from C$29.75 to C$30.50 in a research note on Monday, March 14th. HC Wainwright decreased their price target on MAG Silver from $22.00 to $21.50 and set a buy rating for the company in a research note on Monday, April 4th. Raymond James upped their price target on MAG Silver from C$28.00 to C$29.00 in a research note on Wednesday. Finally, Zacks Investment Research upgraded MAG Silver from a strong sell rating to a hold rating in a research note on Wednesday, April 6th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average price target of $25.96.
NYSEAMERICAN:MAG opened at $15.51 on Wednesday. The firm has a market cap of $1.52 billion, a P/E ratio of 193.90 and a beta of 1.10. MAG Silver has a 1-year low of $13.09 and a 1-year high of $24.13.
Large investors have recently made changes to their positions in the stock. ETF Managers Group LLC lifted its position in shares of MAG Silver by 52.7% in the 4th quarter. ETF Managers Group LLC now owns 4,358,743 shares of the company’s stock worth $67,502,000 after acquiring an additional 1,505,098 shares during the period. Equinox Partners Investment Management LLC bought a new stake in shares of MAG Silver in the 3rd quarter worth approximately $21,661,000. BlackRock Inc. bought a new stake in shares of MAG Silver in the 4th quarter worth approximately $10,405,000. Mackenzie Financial Corp lifted its position 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 worth $31,870,000 after acquiring an additional 346,924 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of MAG Silver by 202.8% in the 4th quarter. Invesco Ltd. now owns 429,022 shares of the company’s stock worth $6,723,000 after buying an additional 287,336 shares in the last quarter. Hedge funds and other institutional investors own 48.55% of the company’s stock.
MAG Silver Company Profile (Get Rating)
MAG Silver Corp. engages in the exploration and development of silver mining properties. It also explores for gold, lead, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. The company was incorporated in 2003 and is headquartered in Vancouver, Canada.
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