MAG Silver (NYSEAMERICAN:MAG) PT Raised to $17.00

MAG Silver (NYSEAMERICAN:MAG) had its price objective hoisted by HC Wainwright from $16.00 to $17.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 31.07% from the company’s current price.

A number of other equities research analysts also recently commented on MAG. Scotiabank raised MAG Silver from a “sector perform” rating to a “sector outperform” rating and reduced their target price for the company from $15.00 to $13.50 in a report on Thursday, March 28th. Stifel Nicolaus cut their price target on MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. Finally, StockNews.com raised MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, MAG Silver currently has an average rating of “Moderate Buy” and an average target price of $18.25.

MAG Silver Stock Performance

Shares of MAG opened at $12.97 on Thursday. The company has a market cap of $1.34 billion, a PE ratio of 27.60 and a beta of 1.15. MAG Silver has a 12-month low of $8.19 and a 12-month high of $13.62.

MAG Silver (NYSEAMERICAN:MAG) last released its earnings results on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Analysts anticipate that MAG Silver will post 0.53 earnings per share for the current year.

Institutional Trading of MAG Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAG. Azarias Capital Management L.P. purchased a new stake in MAG Silver during the 4th quarter worth about $8,420,000. First Eagle Investment Management LLC increased its position in MAG Silver by 11.2% during the 4th quarter. First Eagle Investment Management LLC now owns 6,380,120 shares of the company’s stock worth $66,402,000 after purchasing an additional 642,494 shares in the last quarter. Van ECK Associates Corp increased its position in MAG Silver by 4.4% during the 3rd quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock worth $101,069,000 after purchasing an additional 406,335 shares in the last quarter. Monaco Asset Management SAM purchased a new stake in MAG Silver during the 4th quarter worth about $2,615,000. Finally, Invesco Ltd. increased its position in MAG Silver by 8.8% during the 3rd quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock worth $15,202,000 after purchasing an additional 118,211 shares in the last quarter. 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.