Ventum Cap Mkts Lowers MAG Silver (NYSEAMERICAN:MAG) to Neutral

Ventum Cap Mkts downgraded shares of MAG Silver (NYSEAMERICAN:MAG) from a buy rating to a neutral rating in a research note published on Friday, Zacks.com reports.

A number of other research firms have also commented on MAG. StockNews.com raised MAG Silver to a sell rating in a research note on Wednesday, March 27th. Stifel Nicolaus decreased their price target on shares of MAG Silver from $20.00 to $19.00 and set a buy rating on the stock in a research note on Wednesday, March 20th. HC Wainwright boosted their price objective on shares of MAG Silver from $16.00 to $17.00 and gave the company a buy rating in a research report on Thursday, April 25th. Finally, Scotiabank raised shares of MAG Silver from a sector perform rating to a sector outperform rating and reduced their price objective for the company from $15.00 to $13.50 in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MAG Silver presently has an average rating of Moderate Buy and a consensus price target of $18.25.

MAG Silver Stock Up 2.9 %

Shares of MAG opened at $12.64 on Friday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 26.89 and a beta of 1.10. MAG Silver has a 12-month low of $8.19 and a 12-month high of $13.40.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. As a group, research analysts anticipate that MAG Silver will post 0.55 earnings per share for the current year.

Institutional Investors Weigh In On MAG Silver

Several hedge funds have recently modified their holdings of the stock. Azarias Capital Management L.P. purchased a new position in shares of MAG Silver in the 4th quarter worth about $8,420,000. Van ECK Associates Corp increased its position in MAG Silver by 7.5% during the 1st quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock worth $105,603,000 after purchasing an additional 696,140 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in MAG Silver by 11.2% in the fourth quarter. First Eagle Investment Management LLC now owns 6,380,120 shares of the company’s stock valued at $66,402,000 after buying an additional 642,494 shares during the period. Monaco Asset Management SAM acquired a new position in MAG Silver during the fourth quarter valued at approximately $2,615,000. Finally, Invesco Ltd. grew its stake in MAG Silver by 8.8% during the third quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock worth $15,202,000 after buying an additional 118,211 shares during the period. 52.50% of the stock is owned by institutional investors and hedge funds.

MAG Silver Company Profile

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.