MAG Silver (NYSEAMERICAN:MAG) Upgraded to “Hold” at Zacks Investment Research
According to Zacks, “MAG Silver is a Vancouver-based advanced stage exploration and development company that is focused on the acquisition, exploration and development of high-grade, district-scale projects located primarily in the Americas. The Companys principal asset is a 44% interest in the Juanicipio joint venture located in Mexico, which is now in the construction phase heading to production. The Company also owns a 100% interest in the Cinco de Mayo Project, also located in Mexico. “
Other equities analysts also recently issued research reports about the company. BMO Capital Markets reaffirmed a buy rating and set a $17.50 price target on shares of MAG Silver in a research report on Tuesday, November 19th. HC Wainwright upped their price target on MAG Silver from $16.50 to $18.50 and gave the stock a buy rating in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $15.67.
MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Friday, November 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.02).
In related news, insider Berrie David 1,360,000 shares of the company’s stock in a transaction on Wednesday, October 30th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC increased its position in MAG Silver by 9,900.0% during the 3rd quarter. FNY Investment Advisers LLC now owns 4,000 shares of the company’s stock worth $42,000 after buying an additional 3,960 shares during the period. Tower Research Capital LLC TRC increased its position in MAG Silver by 995.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,443 shares of the company’s stock worth $122,000 after buying an additional 10,398 shares during the period. Virtu Financial LLC bought a new position in MAG Silver during the 3rd quarter worth $181,000. Capital Wealth Planning LLC bought a new position in MAG Silver during the 2nd quarter worth $211,000. Finally, Millennium Management LLC bought a new position in MAG Silver during the 3rd quarter worth $213,000.
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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