StockNews.com Upgrades MAG Silver (NYSEAMERICAN:MAG) to “Sell”

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

A number of other equities analysts also recently commented on the stock. Scotiabank reduced their price objective on shares of MAG Silver from $16.00 to $15.50 in a report on Monday, August 14th. HC Wainwright reissued a “buy” rating and set a $19.50 price target on shares of MAG Silver in a report on Monday, November 13th. Finally, BMO Capital Markets started coverage on shares of MAG Silver in a report on Thursday, September 14th. They set an “outperform” rating and a $23.50 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.39.

MAG Silver Price Performance

MAG Silver stock traded down $0.02 during mid-day trading on Monday, reaching $10.48. The company had a trading volume of 421,672 shares, compared to its average volume of 705,841. MAG Silver has a 52 week low of $9.60 and a 52 week high of $17.02. The company has a market cap of $1.08 billion, a PE ratio of 32.75 and a beta of 1.11.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings results on Friday, November 10th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). Analysts expect that MAG Silver will post 0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp lifted its stake in MAG Silver by 4.4% in the third quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock valued at $101,069,000 after buying an additional 406,335 shares in the last quarter. First Eagle Investment Management LLC lifted its stake in MAG Silver by 0.4% in the third quarter. First Eagle Investment Management LLC now owns 5,737,626 shares of the company’s stock valued at $59,306,000 after buying an additional 22,141 shares in the last quarter. Sprott Inc. lifted its stake in MAG Silver by 1.1% in the fourth quarter. Sprott Inc. now owns 5,195,576 shares of the company’s stock valued at $81,160,000 after buying an additional 57,673 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in MAG Silver by 2.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,542,545 shares of the company’s stock valued at $26,403,000 after buying an additional 58,849 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its stake in MAG Silver by 1.7% in the third quarter. Jupiter Asset Management Ltd. now owns 2,364,171 shares of the company’s stock valued at $24,551,000 after buying an additional 38,784 shares in the last quarter. Institutional investors own 42.80% of the company’s stock.

MAG Silver Company Profile

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.