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

MAG Silver (NYSEAMERICAN:MAG) had its target price upped by HC Wainwright from $16.00 to $17.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

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

MAG Silver Stock Down 0.1 %

NYSEAMERICAN:MAG opened at $12.96 on Thursday. MAG Silver has a 1 year low of $8.19 and a 1 year high of $13.62. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of 27.57 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last posted its earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. As a group, equities research analysts anticipate that MAG Silver will post 0.55 earnings per share for the current year.

Institutional Trading of MAG Silver

Several institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its position in shares of MAG Silver by 2.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,542,545 shares of the company’s stock valued at $26,403,000 after purchasing an additional 58,849 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of MAG Silver by 9.6% in the third quarter. CIBC Asset Management Inc now owns 88,229 shares of the company’s stock valued at $915,000 after purchasing an additional 7,753 shares during the last quarter. Lynwood Capital Management Inc. acquired a new position in shares of MAG Silver in the third quarter valued at approximately $517,000. Privium Fund Management B.V. grew its position in shares of MAG Silver by 44.9% in the third quarter. Privium Fund Management B.V. now owns 15,500 shares of the company’s stock valued at $161,000 after purchasing an additional 4,800 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in shares of MAG Silver by 1.9% in the third quarter. Oppenheimer & Co. Inc. now owns 361,116 shares of the company’s stock valued at $3,745,000 after purchasing an additional 6,895 shares during the last quarter. Institutional investors own 52.50% of the company’s stock.

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.