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

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

Several other brokerages have also recently weighed in on MAG. StockNews.com raised MAG Silver to a sell rating in a report on Wednesday, March 27th. Stifel Nicolaus dropped their price objective on MAG Silver from $20.00 to $19.00 and set a buy rating for the company in a report on Wednesday, March 20th. Finally, Scotiabank raised MAG Silver from a sector perform rating to a sector outperform rating and lowered their price target for the stock from $15.00 to $13.50 in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, MAG Silver currently has a consensus rating of Moderate Buy and a consensus target price of $18.25.

MAG Silver Stock Up 7.5 %

MAG stock traded up $0.90 during mid-day trading on Thursday, reaching $12.97. The company had a trading volume of 1,106,680 shares, compared to its average volume of 858,963. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 27.60 and a beta of 1.15. MAG Silver has a 52 week low of $8.19 and a 52 week high of $13.62.

MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last posted its quarterly earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.01. On average, equities research analysts anticipate that MAG Silver will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On MAG Silver

Institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp raised its stake in MAG Silver by 4.4% during the 3rd quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company's stock worth $101,069,000 after buying an additional 406,335 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of 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 acquiring an additional 642,494 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of MAG Silver by 2.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,542,545 shares of the company's stock valued at $26,403,000 after acquiring an additional 58,849 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in shares of MAG Silver by 1.7% in the third quarter. Jupiter Asset Management Ltd. now owns 2,364,171 shares of the company's stock valued at $24,551,000 after acquiring an additional 38,784 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of 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 acquiring an additional 118,211 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.