MAG Silver Corp. (NYSEAMERICAN:MAG) Receives $18.63 Average PT from Analysts

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $18.63.

Separately, HC Wainwright restated a “buy” rating and issued a $21.00 price objective on shares of MAG Silver in a report on Tuesday, February 25th.

Hedge Funds Weigh In On MAG Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Advisors Network LLC grew its holdings in MAG Silver by 38.7% during the fourth quarter. Integrated Advisors Network LLC now owns 61,250 shares of the company’s stock valued at $833,000 after purchasing an additional 17,100 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of MAG Silver in the fourth quarter valued at approximately $401,000. Millennium Management LLC boosted its position in shares of MAG Silver by 3,324.7% in the fourth quarter. Millennium Management LLC now owns 886,203 shares of the company’s stock valued at $12,052,000 after acquiring an additional 860,326 shares during the period. Eschler Asset Management LLP boosted its position in shares of MAG Silver by 83.3% in the fourth quarter. Eschler Asset Management LLP now owns 55,000 shares of the company’s stock valued at $748,000 after acquiring an additional 25,000 shares during the period. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of MAG Silver in the fourth quarter valued at approximately $156,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Stock Down 2.4 %

NYSEAMERICAN:MAG opened at $15.04 on Friday. The stock has a 50 day moving average price of $15.10. MAG Silver has a 52 week low of $8.88 and a 52 week high of $18.27. The firm has a market capitalization of $1.55 billion, a P/E ratio of 21.18 and a beta of 1.09.

About MAG Silver

MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company's flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.