MAG Silver (NYSEAMERICAN:MAG) Shares Up 4% on Analyst Upgrade

MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report)'s stock price traded up 4% during mid-day trading on Thursday after HC Wainwright raised their price target on the stock from $16.00 to $17.00. HC Wainwright currently has a buy rating on the stock. MAG Silver traded as high as $12.70 and last traded at $12.55. 459,136 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 849,838 shares. The stock had previously closed at $12.07.

A number of other research firms have also recently issued reports on MAG. StockNews.com upgraded MAG Silver to a "sell" rating in a research note on Wednesday, March 27th. Scotiabank upgraded shares of MAG Silver from a "sector perform" rating to a "sector outperform" rating and cut their price objective for the company from $15.00 to $13.50 in a research note on Thursday, March 28th. Finally, Stifel Nicolaus cut their price objective on shares of MAG Silver from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Wednesday, March 20th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.25.

Institutional Investors Weigh In On MAG Silver

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAG. Banque Cantonale Vaudoise increased its position in MAG Silver by 8.6% in the 1st quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company's stock worth $116,000 after buying an additional 876 shares during the period. Crown Wealth Group LLC bought a new stake in shares of MAG Silver during the fourth quarter valued at approximately $118,000. Quadrature Capital Ltd bought a new stake in shares of MAG Silver during the third quarter valued at approximately $127,000. Privium Fund Management B.V. increased its position in shares of MAG Silver by 44.9% during the third quarter. Privium Fund Management B.V. now owns 15,500 shares of the company's stock valued at $161,000 after purchasing an additional 4,800 shares during the period. Finally, Veracity Capital LLC increased its position in shares of MAG Silver by 50.0% during the fourth quarter. Veracity Capital LLC now owns 16,654 shares of the company's stock valued at $173,000 after purchasing an additional 5,551 shares during the period. 52.50% of the stock is currently owned by institutional investors and hedge funds.

MAG Silver Stock Up 7.5 %

The stock has a market cap of $1.34 billion, a PE ratio of 27.21 and a beta of 1.15.

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

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.