MAG Silver Corp. (NYSEAMERICAN:MAG) Given Average Recommendation of “Buy” by Brokerages

Posted by on Feb 23rd, 2021

MAG Silver Corp. (NYSEAMERICAN:MAG) has earned a consensus recommendation of “Buy” from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $24.42.

Several research firms have weighed in on MAG. Stifel Nicolaus boosted their price target on MAG Silver from $27.75 to $29.00 and gave the company a “buy” rating in a research note on Monday, February 8th. BMO Capital Markets dropped their price target on MAG Silver from $23.50 to $22.50 and set an “outperform” rating on the stock in a research note on Thursday, January 28th. TD Securities boosted their price target on MAG Silver from $27.00 to $30.00 and gave the company a “hold” rating in a research note on Thursday, January 7th. Zacks Investment Research downgraded MAG Silver from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 2nd. Finally, Raymond James upped their target price on MAG Silver from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Friday, January 15th.

Shares of MAG traded down $0.10 during trading hours on Tuesday, hitting $21.38. The company had a trading volume of 99,104 shares, compared to its average volume of 839,738. The company has a market cap of $2.03 billion, a P/E ratio of -102.28 and a beta of 1.19. MAG Silver has a one year low of $3.84 and a one year high of $24.43. The business’s fifty day moving average price is $17.12.

Several institutional investors have recently made changes to their positions in MAG. FMR LLC increased its holdings in shares of MAG Silver by 19.7% in the first quarter. FMR LLC now owns 728,901 shares of the company’s stock valued at $7,783,000 after purchasing an additional 120,000 shares during the last quarter. CWM LLC acquired a new stake in shares of MAG Silver in the third quarter valued at approximately $25,000. Alberta Investment Management Corp acquired a new stake in shares of MAG Silver in the third quarter valued at approximately $634,000. Private Advisor Group LLC purchased a new position in MAG Silver in the third quarter worth approximately $205,000. Finally, Chase Investment Counsel Corp grew its position in MAG Silver by 11.3% in the third quarter. Chase Investment Counsel Corp now owns 38,550 shares of the company’s stock worth $626,000 after acquiring an additional 3,925 shares during the period. 39.73% of the stock is owned by institutional investors and hedge funds.

About MAG Silver

MAG Silver Corp. focuses on the acquisition, exploration, and development of mineral properties primarily in the Americas. The company explores for silver, gold, lead, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico.

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Analyst Recommendations for MAG Silver (NYSEAMERICAN:MAG)

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