MAG Silver (NYSEAMERICAN:MAG) Given New $21.00 Price Target at HC Wainwright

MAG Silver (NYSEAMERICAN:MAG) had its price target upped by HC Wainwright from $20.00 to $21.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 37.70% from the company’s current price.

MAG has been the subject of several other research reports. Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and upped their price objective for the company from $17.00 to $17.50 in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, MAG Silver currently has an average rating of “Hold” and a consensus target price of $18.63.

MAG Silver Stock Up 4.3 %

Shares of NYSEAMERICAN MAG opened at $15.25 on Thursday. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 21.48 and a beta of 1.08. MAG Silver has a 1-year low of $8.19 and a 1-year high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. On average, equities research analysts anticipate that MAG Silver will post 0.74 earnings per share for the current year.

Institutional Investors Weigh In On MAG Silver

A number of hedge funds have recently added to or reduced their stakes in MAG. Capital Performance Advisors LLP acquired a new position in shares of MAG Silver during the third quarter worth approximately $28,000. Quantbot Technologies LP acquired a new position in MAG Silver during the third quarter worth $52,000. DF Dent & Co. Inc. bought a new position in shares of MAG Silver in the third quarter valued at $140,000. Pekin Hardy Strauss Inc. acquired a new position in shares of MAG Silver during the third quarter valued at about $140,000. Finally, International Assets Investment Management LLC bought a new stake in shares of MAG Silver during the third quarter worth about $148,000. 52.50% of the stock is currently owned by institutional investors.

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.