Zacks Investment Research Upgrades MAG Silver (MAG) to “Hold”
According to Zacks, “MAG is focused on district scale projects located within the Mexican Silver Belt. Our mission is to become one of the premier companies in the Silver Mining Industry. MAG and its partner, Industrias Penoles, are delineating a significant new silver vein discovery on the Juanicipio Joint Venture in Zacatecas State, Mexico. MAG is based in Vancouver, British Columbia, Canada. “
A number of other equities research analysts have also recently commented on MAG. Raymond James reiterated an average rating and set a $19.00 target price on shares of MAG Silver in a report on Wednesday, March 6th. Roth Capital reiterated a buy rating on shares of MAG Silver in a report on Wednesday, March 6th. HC Wainwright reiterated a buy rating and set a $16.50 target price on shares of MAG Silver in a report on Thursday, March 7th. Finally, Macquarie reiterated a buy rating on shares of MAG Silver in a report on Friday, April 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $15.67.
MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings results on Monday, April 1st. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03).
A number of large investors have recently made changes to their positions in MAG. D. E. Shaw & Co. Inc. lifted its stake in shares of MAG Silver by 19.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 514,800 shares of the company’s stock worth $3,775,000 after purchasing an additional 85,400 shares during the period. Tocqueville Asset Management L.P. lifted its stake in shares of MAG Silver by 18.3% during the 1st quarter. Tocqueville Asset Management L.P. now owns 7,917,725 shares of the company’s stock worth $84,429,000 after purchasing an additional 1,222,800 shares during the period. CIBC Asset Management Inc lifted its stake in shares of MAG Silver by 0.5% during the 4th quarter. CIBC Asset Management Inc now owns 280,342 shares of the company’s stock worth $2,054,000 after purchasing an additional 1,432 shares during the period. Sun Valley Gold LLC lifted its stake in shares of MAG Silver by 113.5% during the 4th quarter. Sun Valley Gold LLC now owns 890,571 shares of the company’s stock worth $6,530,000 after purchasing an additional 473,409 shares during the period. Finally, Deutsche Bank AG lifted its stake in shares of MAG Silver by 108.7% during the 4th quarter. Deutsche Bank AG now owns 969,897 shares of the company’s stock worth $7,079,000 after purchasing an additional 505,110 shares during the period.
MAG Silver Company Profile
MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Mexico. It explores for silver, gold, lead, and zinc deposits. The company primarily holds interest in the Juanicipio property covering an area of approximately 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.
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