Roth Mkm Lowers MAG Silver (NYSEAMERICAN:MAG) Price Target to $16.00

MAG Silver (NYSEAMERICAN:MAG) had its price target reduced by equities researchers at Roth Mkm from $16.50 to $16.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Roth Mkm’s target price would indicate a potential downside of 3.73% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. HC Wainwright lifted their price objective on MAG Silver from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday. TD Securities raised shares of MAG Silver to a “strong-buy” rating in a research report on Monday, March 10th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MAG Silver currently has a consensus rating of “Moderate Buy” and an average price target of $18.50.

MAG Silver Stock Down 0.8 %

Shares of NYSEAMERICAN:MAG traded down $0.14 on Tuesday, reaching $16.62. 284,589 shares of the company’s stock were exchanged, compared to its average volume of 606,654. MAG Silver has a twelve month low of $8.97 and a twelve month high of $18.27. The company’s fifty day moving average price is $15.53. The firm has a market cap of $1.72 billion, a P/E ratio of 23.41 and a beta of 1.09.

Institutional Investors Weigh In On MAG Silver

A number of institutional investors have recently modified their holdings of MAG. Pekin Hardy Strauss Inc. bought a new stake in MAG Silver in the third quarter worth approximately $140,000. The Manufacturers Life Insurance Company increased its stake in shares of MAG Silver by 199.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock valued at $5,374,000 after acquiring an additional 254,553 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of MAG Silver during the 3rd quarter valued at $52,000. Verition Fund Management LLC bought a new position in MAG Silver during the third quarter worth $168,000. Finally, National Bank of Canada FI grew its holdings in MAG Silver by 12.0% in the third quarter. National Bank of Canada FI now owns 225,802 shares of the company’s stock worth $3,171,000 after purchasing an additional 24,185 shares during the period. 52.50% of the stock is owned by institutional investors.

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.