MAG Silver (NYSEAMERICAN:MAG) Price Target Cut to $16.00 by Analysts at HC Wainwright

MAG Silver (NYSEAMERICAN:MAG - Free Report) had its target price cut by HC Wainwright from $19.50 to $16.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently weighed in on MAG. Stifel Nicolaus reduced their price target on MAG Silver from $20.00 to $19.00 and set a buy rating on the stock in a report on Wednesday, March 20th. StockNews.com upgraded MAG Silver to a sell rating in a report on Wednesday, March 27th. Finally, Scotiabank upgraded MAG Silver from a sector perform rating to a sector outperform rating and reduced their target price for the company from $15.00 to $13.50 in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $18.00.

MAG Silver Trading Down 3.7 %

Shares of NYSEAMERICAN:MAG traded down $0.45 during midday trading on Thursday, hitting $11.77. 2,182,718 shares of the stock were exchanged, compared to its average volume of 794,514. The stock has a market cap of $1.21 billion, a P/E ratio of 25.70 and a beta of 1.15. MAG Silver has a 12 month low of $8.19 and a 12 month high of $14.42.

MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. As a group, equities analysts forecast that MAG Silver will post 0.48 EPS for the current year.

Hedge Funds Weigh In On MAG Silver

Institutional investors and hedge funds have recently modified their holdings of the business. Natixis acquired a new position in shares of MAG Silver during the fourth quarter worth approximately $34,000. Geneos Wealth Management Inc. raised its position in shares of MAG Silver by 89.6% during the first quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company's stock worth $54,000 after purchasing an additional 1,600 shares during the period. Deutsche Bank AG acquired a new position in shares of MAG Silver during the fourth quarter worth approximately $55,000. BNP Paribas Financial Markets acquired a new position in shares of MAG Silver during the fourth quarter worth approximately $61,000. Finally, Chilton Capital Management LLC acquired a new position in shares of MAG Silver during the first quarter worth approximately $78,000. 52.50% of the stock is currently owned by institutional investors.

MAG Silver Company Profile

MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.