MAG Silver (NYSEAMERICAN:MAG) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

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. “

Other equities analysts have also issued reports about the stock. HC Wainwright reiterated a “buy” rating on shares of MAG Silver in a report on Wednesday, November 8th. Raymond James Financial reiterated an “outperform” rating on shares of MAG Silver in a report on Tuesday, November 21st. BMO Capital Markets assumed coverage on shares of MAG Silver in a report on Friday, November 17th. They set a “buy” rating for the company. Finally, BidaskClub downgraded shares of MAG Silver from a “sell” rating to a “strong sell” rating in a research report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $16.60.

Shares of MAG Silver (NYSEAMERICAN:MAG) opened at $12.46 on Tuesday. MAG Silver has a 1-year low of $10.05 and a 1-year high of $16.78. The company has a market cap of $1,060.00, a PE ratio of -19.17 and a beta of 0.40.

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of MAG Silver by 17.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 925,506 shares of the company’s stock valued at $12,069,000 after buying an additional 139,540 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of MAG Silver by 1.6% during the 2nd quarter. Franklin Resources Inc. now owns 1,048,000 shares of the company’s stock valued at $13,689,000 after buying an additional 16,000 shares in the last quarter. GRT Capital Partners L.L.C. lifted its stake in shares of MAG Silver by 32.1% during the 2nd quarter. GRT Capital Partners L.L.C. now owns 23,842 shares of the company’s stock valued at $311,000 after buying an additional 5,800 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its stake in shares of MAG Silver by 10.8% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 41,000 shares of the company’s stock valued at $536,000 after buying an additional 4,000 shares in the last quarter. Finally, Investec Asset Management LTD lifted its stake in shares of MAG Silver by 14.9% during the 2nd quarter. Investec Asset Management LTD now owns 390,134 shares of the company’s stock valued at $5,086,000 after buying an additional 50,729 shares in the last quarter.

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MAG Silver Company Profile

MAG Silver Corp. is a mineral exploration and development company. The Company is focused on the acquisition, exploration and development of projects located within the Mexican silver belt. The Company operates through the exploration of mineral properties in Mexico segment. The Company’s projects include Juanicipio Property, Cinco De Mayo Property and Guigui Property.

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