HC Wainwright Reaffirms "Neutral" Rating for MAG Silver (NYSEAMERICAN:MAG)

MAG Silver (NYSEAMERICAN:MAG - Get Free Report)'s stock had its "neutral" rating restated by equities researchers at HC Wainwright in a note issued to investors on Thursday, MarketBeat.com reports. They currently have a $22.00 price objective on the stock. HC Wainwright's target price indicates a potential upside of 2.14% from the company's current price.

A number of other equities research analysts have also recently commented on MAG. Wall Street Zen upgraded shares of MAG Silver from a "sell" rating to a "hold" rating in a research report on Monday, March 31st. TD Securities cut shares of MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Canaccord Genuity Group cut shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. Scotiabank reiterated a "sector perform" rating on shares of MAG Silver in a research report on Monday, April 14th. Finally, Roth Capital increased their target price on shares of MAG Silver from $18.00 to $21.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $19.38.

MAG Silver Trading Down 0.7%

MAG traded down $0.16 during midday trading on Thursday, hitting $21.54. 1,063,395 shares of the company traded hands, compared to its average volume of 1,289,699. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 24.48 and a beta of 0.75. MAG Silver has a 52-week low of $11.29 and a 52-week high of $22.66. The business has a 50 day simple moving average of $20.79 and a two-hundred day simple moving average of $17.02.

Institutional Investors Weigh In On MAG Silver

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new stake in shares of MAG Silver during the first quarter valued at about $37,000. Northwest & Ethical Investments L.P. boosted its stake in shares of MAG Silver by 39.3% in the first quarter. Northwest & Ethical Investments L.P. now owns 8,178 shares of the company's stock valued at $124,000 after purchasing an additional 2,308 shares during the period. D. E. Shaw & Co. Inc. purchased a new position in MAG Silver in the fourth quarter worth approximately $156,000. D.A. Davidson & CO. purchased a new position in MAG Silver in the first quarter worth approximately $167,000. Finally, Everett Harris & Co. CA purchased a new position in MAG Silver in the first quarter worth approximately $177,000. 52.50% of the stock is currently owned by institutional investors and hedge funds.

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.