MAG Silver Corp (NYSEAMERICAN:MAG) has earned a consensus rating of “Buy” from the six research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $16.17.

Several research firms have commented on MAG. Zacks Investment Research raised shares of MAG Silver from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Friday. HC Wainwright raised their target price on shares of MAG Silver from $16.50 to $18.50 and gave the company a “buy” rating in a research note on Monday, August 19th.

Institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its position in shares of MAG Silver by 4.3% during the 2nd quarter. Van ECK Associates Corp now owns 3,931,156 shares of the company’s stock valued at $41,434,000 after purchasing an additional 160,423 shares in the last quarter. Bank of Montreal Can boosted its position in shares of MAG Silver by 268.1% during the 2nd quarter. Bank of Montreal Can now owns 1,671,131 shares of the company’s stock valued at $17,614,000 after purchasing an additional 1,217,142 shares in the last quarter. Morgan Stanley boosted its position in shares of MAG Silver by 6.3% during the 2nd quarter. Morgan Stanley now owns 1,478,162 shares of the company’s stock valued at $15,579,000 after purchasing an additional 87,700 shares in the last quarter. PenderFund Capital Management Ltd. bought a new position in shares of MAG Silver during the 2nd quarter valued at about $13,833,000. Finally, Royal Bank of Canada boosted its position in shares of MAG Silver by 9.4% during the 2nd quarter. Royal Bank of Canada now owns 1,032,445 shares of the company’s stock valued at $10,883,000 after purchasing an additional 88,594 shares in the last quarter.

MAG Silver stock opened at $9.71 on Monday. MAG Silver has a 52 week low of $6.12 and a 52 week high of $14.00.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Monday, August 12th. The company reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01.

MAG Silver Company Profile

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

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Analyst Recommendations for MAG Silver (NYSEAMERICAN:MAG)

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