MAG Silver (NYSEAMERICAN:MAG) Price Target Cut to $16.00 by Analysts at Roth Mkm

MAG Silver (NYSEAMERICAN:MAG) had its price target decreased by Roth Mkm from $16.50 to $16.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Roth Mkm’s price target suggests a potential downside of 3.73% from the stock’s previous close.

A number of other brokerages have also commented on MAG. TD Securities upgraded shares of MAG Silver to a “strong-buy” rating in a report on Monday, March 10th. HC Wainwright boosted their price target on MAG Silver from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average 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 during midday trading on Tuesday, reaching $16.62. 284,589 shares of the stock were exchanged, compared to its average volume of 606,654. MAG Silver has a 12 month low of $8.97 and a 12 month high of $18.27. The business’s 50-day moving average is $15.53. The stock has a market capitalization of $1.72 billion, a P/E ratio of 23.41 and a beta of 1.09.

Hedge Funds Weigh In On MAG Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new stake in shares of MAG Silver during the 3rd quarter worth about $52,000. DF Dent & Co. Inc. acquired a new stake in MAG Silver during the third quarter worth approximately $140,000. Pekin Hardy Strauss Inc. acquired a new stake in MAG Silver during the third quarter worth approximately $140,000. Aigen Investment Management LP acquired a new position in shares of MAG Silver in the fourth quarter valued at approximately $156,000. Finally, D. E. Shaw & Co. Inc. acquired a new position in shares of MAG Silver in the fourth quarter valued at approximately $156,000. 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.