MAG Silver Corp (MAG) Receives Consensus Rating of “Buy” from Analysts

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Shares of MAG Silver Corp (NYSEAMERICAN:MAG) have earned an average recommendation of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $17.75.

A number of analysts recently issued reports on MAG shares. Raymond James reissued an “average” rating and set a $19.00 price target on shares of MAG Silver in a report on Wednesday, March 6th. HC Wainwright reissued a “buy” rating and set a $16.50 price target on shares of MAG Silver in a report on Thursday, March 7th. Zacks Investment Research downgraded shares of MAG Silver from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Roth Capital restated a “buy” rating on shares of MAG Silver in a research report on Wednesday, March 6th. Finally, BMO Capital Markets restated a “buy” rating on shares of MAG Silver in a research report on Monday, December 17th.

NYSEAMERICAN MAG traded up $0.26 during mid-day trading on Friday, reaching $10.79. 74,836 shares of the stock were exchanged, compared to its average volume of 287,450. MAG Silver has a 1 year low of $6.12 and a 1 year high of $12.00.

Several hedge funds and other institutional investors have recently modified their holdings of the company. CIBC Asset Management Inc grew its holdings in shares of MAG Silver by 0.5% in the fourth quarter. CIBC Asset Management Inc now owns 280,342 shares of the company’s stock valued at $2,054,000 after purchasing an additional 1,432 shares during the period. Mackenzie Financial Corp boosted its stake in MAG Silver by 0.7% during the fourth quarter. Mackenzie Financial Corp now owns 687,434 shares of the company’s stock worth $5,018,000 after buying an additional 4,834 shares during the period. BlackRock Inc. boosted its stake in MAG Silver by 124.7% during the second quarter. BlackRock Inc. now owns 15,236 shares of the company’s stock worth $165,000 after buying an additional 8,454 shares during the period. Bank of America Corp DE boosted its stake in MAG Silver by 257.5% during the second quarter. Bank of America Corp DE now owns 12,294 shares of the company’s stock worth $133,000 after buying an additional 8,855 shares during the period. Finally, AGF Investments Inc. boosted its stake in MAG Silver by 4.1% during the third quarter. AGF Investments Inc. now owns 258,307 shares of the company’s stock worth $2,088,000 after buying an additional 10,100 shares during the period.

About MAG Silver

MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Canada. It explores for copper, gold, silver, lead, and zinc deposits. The company primarily holds interests in the Juanicipio property covering 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.

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