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

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

MAG has been the topic of a number of other reports. StockNews.com upgraded MAG Silver to a sell rating in a research note on Wednesday, March 27th. Stifel Nicolaus decreased their target price on MAG Silver from $20.00 to $19.00 and set a buy rating on the stock in a research note on Wednesday, March 20th. Finally, Scotiabank upgraded MAG Silver from a sector perform rating to a sector outperform rating and decreased their target price for the stock from $15.00 to $13.50 in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $18.25.

MAG Silver Stock Performance

NYSEAMERICAN:MAG opened at $12.96 on Thursday. MAG Silver has a 52-week low of $8.19 and a 52-week high of $13.62. The firm has a market cap of $1.33 billion, a P/E ratio of 27.57 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings data 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. Research analysts forecast that MAG Silver will post 0.55 earnings per share for the current year.

Hedge Funds Weigh In On MAG Silver

A number of hedge funds and other institutional investors have recently modified their holdings of MAG. Banque Cantonale Vaudoise boosted its holdings in MAG Silver by 8.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock valued at $116,000 after acquiring an additional 876 shares during the period. Crown Wealth Group LLC purchased a new stake in MAG Silver during the 4th quarter valued at about $118,000. Quadrature Capital Ltd purchased a new stake in MAG Silver during the 3rd quarter valued at about $127,000. Privium Fund Management B.V. boosted its holdings in MAG Silver by 44.9% during the 3rd quarter. Privium Fund Management B.V. now owns 15,500 shares of the company’s stock valued at $161,000 after acquiring an additional 4,800 shares during the period. Finally, Veracity Capital LLC boosted its holdings in MAG Silver by 50.0% during the 4th quarter. Veracity Capital LLC now owns 16,654 shares of the company’s stock valued at $173,000 after acquiring an additional 5,551 shares during the period. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

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.