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

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

Several other research analysts have also recently weighed in on MAG. Scotiabank upgraded MAG Silver from a sector perform rating to a sector outperform rating and lowered their target price for the stock from $15.00 to $13.50 in a report on Thursday, March 28th. StockNews.com upgraded MAG Silver to a sell rating in a report on Wednesday, March 27th. Finally, Stifel Nicolaus lowered their target price on MAG Silver from $20.00 to $19.00 and set a buy rating on the stock in a report on Wednesday, March 20th. One investment 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, MAG Silver has an average rating of Moderate Buy and a consensus price target of $18.25.

MAG Silver Stock Performance

NYSEAMERICAN:MAG opened at $12.97 on Thursday. MAG Silver has a 52 week low of $8.19 and a 52 week high of $13.62. The stock has a market cap of $1.34 billion, a PE ratio of 25.68 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last posted 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. As a group, analysts expect that MAG Silver will post 0.53 EPS for the current fiscal year.

Institutional Trading of MAG Silver

Several institutional investors have recently made changes to their positions in MAG. Azarias Capital Management L.P. purchased a new stake in shares of MAG Silver during the 4th quarter valued at approximately $8,420,000. First Eagle Investment Management LLC raised its position in MAG Silver by 11.2% in the fourth quarter. First Eagle Investment Management LLC now owns 6,380,120 shares of the company’s stock valued at $66,402,000 after purchasing an additional 642,494 shares during the period. Van ECK Associates Corp raised its position in MAG Silver by 4.4% in the third quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock valued at $101,069,000 after purchasing an additional 406,335 shares during the period. Monaco Asset Management SAM purchased a new stake in MAG Silver in the fourth quarter valued at approximately $2,615,000. Finally, Invesco Ltd. raised its position in MAG Silver by 8.8% in the third quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock valued at $15,202,000 after purchasing an additional 118,211 shares during the period. Hedge funds and other 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.