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

MAG Silver (NYSEAMERICAN:MAG) was upgraded by StockNews.com to a “sell” rating in a note issued to investors on Wednesday.

Several other brokerages also recently weighed in on MAG. Stifel Nicolaus cut their target price on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, March 20th. HC Wainwright reaffirmed a “buy” rating and set a $18.50 target price (down from $19.50) on shares of MAG Silver in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.63.

MAG Silver Trading Up 7.3 %

Shares of MAG stock opened at $10.60 on Wednesday. MAG Silver has a one year low of $8.19 and a one year high of $14.42. The company has a market capitalization of $1.09 billion, a PE ratio of 22.55 and a beta of 1.13.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. Equities analysts expect that MAG Silver will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On MAG Silver

Large investors have recently modified their holdings of the company. Natixis purchased a new stake in shares of MAG Silver in the 4th quarter valued at approximately $34,000. Geneos Wealth Management Inc. increased its position in shares of MAG Silver by 89.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company’s stock valued at $54,000 after purchasing an additional 1,600 shares during the last quarter. Deutsche Bank AG purchased a new stake in shares of MAG Silver in the 4th quarter valued at approximately $55,000. BNP Paribas Financial Markets purchased a new stake in shares of MAG Silver in the 4th quarter valued at approximately $61,000. Finally, Chilton Capital Management LLC acquired a new position in shares of MAG Silver in the 1st quarter valued at $78,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

About MAG Silver

MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.