MAG Silver (NYSEAMERICAN:MAG – Get Free Report) was upgraded by StockNews.com to a “sell” rating in a research report issued on Saturday.
MAG has been the subject of a number of other reports. Stifel Nicolaus cut their target price on MAG Silver from $26.00 to $22.75 and set a “buy” rating for the company in a research note on Thursday, July 13th. Scotiabank initiated coverage on MAG Silver in a research note on Thursday, June 29th. They set a “sector perform” rating for the company. Finally, HC Wainwright reissued a “buy” rating and set a $20.50 target price on shares of MAG Silver in a research note on Wednesday, August 9th.
Get Our Latest Research Report on MAG Silver
MAG Silver Trading Up 1.0 %
MAG Silver (NYSEAMERICAN:MAG – Get Free Report) last announced its earnings results on Monday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. Analysts forecast that MAG Silver will post 0.7 EPS for the current year.
Institutional Trading of MAG Silver
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp increased its holdings in MAG Silver by 137.6% in the second quarter. Van ECK Associates Corp now owns 9,340,066 shares of the company’s stock valued at $104,050,000 after buying an additional 5,409,886 shares during the last quarter. Sprott Inc. raised its position in shares of MAG Silver by 1.1% during the 4th quarter. Sprott Inc. now owns 5,195,576 shares of the company’s stock worth $81,160,000 after purchasing an additional 57,673 shares during the period. First Eagle Investment Management LLC raised its position in shares of MAG Silver by 0.7% during the 4th quarter. First Eagle Investment Management LLC now owns 5,115,268 shares of the company’s stock worth $79,905,000 after purchasing an additional 34,818 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of MAG Silver by 1.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,483,696 shares of the company’s stock worth $27,685,000 after purchasing an additional 44,444 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC raised its position in shares of MAG Silver by 2.5% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 1,378,592 shares of the company’s stock worth $17,467,000 after purchasing an additional 33,763 shares during the period. 35.57% of the stock is owned by hedge funds and other institutional investors.
MAG Silver Company Profile
MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.
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