Analysts Set MAG Silver Corp. (NYSEAMERICAN:MAG) Target Price at $18.00

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have been assigned an average rating of “Buy” from the four research firms that are presently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $18.00.

Several research analysts have recently weighed in on MAG shares. Scotiabank raised MAG Silver from a “sector perform” rating to a “sector outperform” rating and reduced their target price for the stock from $15.00 to $13.50 in a research note on Thursday, March 28th. StockNews.com raised MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. Stifel Nicolaus reduced their price objective on MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. Finally, HC Wainwright reduced their price objective on MAG Silver from $19.50 to $16.00 and set a “buy” rating for the company in a research note on Thursday, April 4th.

MAG Silver Price Performance

Shares of NYSEAMERICAN:MAG opened at $11.93 on Thursday. MAG Silver has a 12-month low of $8.19 and a 12-month high of $13.70. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 25.37 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. On average, sell-side analysts anticipate that MAG Silver will post 0.47 EPS for the current year.

Institutional Investors Weigh In On MAG Silver

Several institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its position in MAG Silver by 4.4% during the third quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock worth $101,069,000 after buying an additional 406,335 shares during the period. Quadrature Capital Ltd acquired a new position in MAG Silver during the third quarter worth approximately $127,000. Oppenheimer & Co. Inc. increased its position in MAG Silver by 1.9% during the third quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company’s stock worth $3,745,000 after buying an additional 6,895 shares during the period. Invesco Ltd. increased its position in MAG Silver by 8.8% during the third quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock worth $15,202,000 after buying an additional 118,211 shares during the period. Finally, Toronto Dominion Bank increased its position in MAG Silver by 11.7% during the third quarter. Toronto Dominion Bank now owns 49,634 shares of the company’s stock worth $515,000 after buying an additional 5,206 shares during the period. Hedge funds and other institutional investors own 52.50% of the company’s stock.

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.