HC Wainwright Boosts MAG Silver (NYSEAMERICAN:MAG) Price Target to $17.00

MAG Silver (NYSEAMERICAN:MAG) had its price objective boosted by HC Wainwright from $16.00 to $17.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 34.92% from the company’s previous close.

A number of other brokerages have also issued reports on MAG. StockNews.com raised shares of MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. Stifel Nicolaus reduced their target price 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, Scotiabank upgraded shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and cut their target price for the stock from $15.00 to $13.50 in a research report on Thursday, March 28th. One equities 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.25.

MAG Silver Price Performance

Shares of MAG Silver stock traded up $0.53 during trading on Thursday, hitting $12.60. 306,421 shares of the company’s stock traded hands, compared to its average volume of 847,126. 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 $1.30 billion, a PE ratio of 26.11 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly 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, sell-side analysts expect that MAG Silver will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On MAG Silver

Large investors have recently added to or reduced their stakes in the stock. Banque Cantonale Vaudoise raised its position in MAG Silver by 8.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock valued at $116,000 after buying an additional 876 shares during the last quarter. Crown Wealth Group LLC bought a new position in shares of MAG Silver in the fourth quarter worth $118,000. Quadrature Capital Ltd purchased a new position in shares of MAG Silver in the third quarter worth about $127,000. Privium Fund Management B.V. grew its stake in shares of MAG Silver by 44.9% in the 3rd quarter. Privium Fund Management B.V. now owns 15,500 shares of the company’s stock worth $161,000 after buying an additional 4,800 shares during the last quarter. Finally, Veracity Capital LLC increased its stake in MAG Silver by 50.0% in the 4th quarter. Veracity Capital LLC now owns 16,654 shares of the company’s stock worth $173,000 after buying an additional 5,551 shares in the last quarter. 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.