Scotiabank Increases MAG Silver (NYSEAMERICAN:MAG) Price Target to $18.50

MAG Silver (NYSEAMERICAN:MAG - Get Free Report) had its target price boosted by Scotiabank from $18.00 to $18.50 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a "sector outperform" rating on the stock. Scotiabank's price objective indicates a potential upside of 19.12% from the company's previous close. Scotiabank also issued estimates for MAG Silver's FY2026 earnings at $0.52 EPS.

Several other brokerages have also weighed in on MAG. StockNews.com upgraded shares of MAG Silver from a "sell" rating to a "hold" rating in a report on Monday, March 31st. Roth Mkm cut their price target on MAG Silver from $16.50 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. Roth Capital set a $16.00 price objective on MAG Silver in a research note on Tuesday, March 25th. HC Wainwright raised their target price on MAG Silver from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, March 25th. Finally, Raymond James reaffirmed an "outperform" rating on shares of MAG Silver in a research note on Tuesday, March 25th. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, MAG Silver presently has an average rating of "Moderate Buy" and a consensus target price of $18.60.

MAG Silver Trading Down 2.9 %

MAG Silver stock traded down $0.47 during mid-day trading on Monday, hitting $15.53. The stock had a trading volume of 577,947 shares, compared to its average volume of 686,609. The stock has a 50-day simple moving average of $15.54 and a two-hundred day simple moving average of $15.23. The stock has a market capitalization of $1.61 billion, a PE ratio of 21.87 and a beta of 1.09. MAG Silver has a 12 month low of $11.29 and a 12 month high of $18.27.

Institutional Trading of MAG Silver

Several hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc boosted its position in shares of MAG Silver by 0.7% in the fourth quarter. CIBC Asset Management Inc now owns 114,355 shares of the company's stock valued at $1,550,000 after acquiring an additional 755 shares during the period. Swiss National Bank grew its holdings in shares of MAG Silver by 0.6% during the 4th quarter. Swiss National Bank now owns 193,900 shares of the company's stock valued at $2,633,000 after purchasing an additional 1,200 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of MAG Silver by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 50,088 shares of the company's stock worth $687,000 after buying an additional 1,245 shares in the last quarter. Veracity Capital LLC grew its holdings in MAG Silver by 8.1% during the 1st quarter. Veracity Capital LLC now owns 18,611 shares of the company's stock worth $284,000 after acquiring an additional 1,401 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in MAG Silver by 5.1% during the 4th quarter. Bank of America Corp DE now owns 49,779 shares of the company's stock worth $677,000 after purchasing an additional 2,399 shares during the last quarter. 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.