Brokerage firm Desjardins Downgrades its rating on MAG Silver Corp (USA)(NYSEMKT:MVG). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Desjardins was issued on Jun 22, 2016.
MAG Silver Corp. is a Canada-based mineral exploration and predevelopment company. The Company is focused on the acquisition exploration and development of projects located within the Mexican silver belt. Its projects include Juanicipio Property which includes three silver (gold lead and zinc) veins: the East and West Valdecanas Veins and the Juanicipio Vein; Salamandra Property which covers 14719 hectares and is located in the city of Durango in the El Guadiana valley in Durango State; Cinco de Mayo Property which is a 25000-hectare project owned 100% by the Company. Cinco de Mayo is located approximately 190 kilometers north of the city of Chihuahua in northern Chihuahua State Mexico; Salamandra Property which is located in Durango State Mexico; and Guigui Property which is a 4500-hectare property located in the Santa Eulalia Mining District of Chihuahua Mexico and Don Fippi (Batopilas) Property which is located in the Batopilas Chihuahua district of Mexico.