MAG Silver (NYSEAMERICAN:MAG) Price Target Raised to $20.00

MAG Silver (NYSEAMERICAN:MAG) had its price objective increased by HC Wainwright from $18.00 to $20.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for MAG Silver’s FY2024 earnings at $0.74 EPS and FY2025 earnings at $0.75 EPS.

Several other analysts have also recently commented on MAG. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and upped their target price for the company from $17.00 to $17.50 in a research note on Thursday, October 24th. Roth Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Scotiabank upped their price objective on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research note on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MAG Silver currently has an average rating of “Hold” and a consensus price target of $18.38.

MAG Silver Trading Down 2.0 %

MAG Silver stock opened at $14.90 on Wednesday. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $18.27. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 20.99 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Equities analysts predict that MAG Silver will post 0.72 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Private Advisor Group LLC raised its stake in shares of MAG Silver by 29.0% in the 1st quarter. Private Advisor Group LLC now owns 32,230 shares of the company’s stock valued at $341,000 after acquiring an additional 7,244 shares during the period. BNP Paribas Financial Markets raised its position in MAG Silver by 450.1% in the first quarter. BNP Paribas Financial Markets now owns 32,104 shares of the company’s stock valued at $340,000 after purchasing an additional 26,268 shares during the period. Jupiter Asset Management Ltd. lifted its stake in shares of MAG Silver by 6.5% during the first quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock worth $26,584,000 after purchasing an additional 153,274 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of MAG Silver by 377.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 47,459 shares of the company’s stock worth $499,000 after buying an additional 37,509 shares during the period. Finally, Nokomis Capital L.L.C. acquired a new stake in shares of MAG Silver in the first quarter valued at about $306,000. Hedge funds and other institutional investors own 52.50% of the company’s stock.

MAG Silver Company Profile

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.