HC Wainwright Boosts MAG Silver (NYSEAMERICAN:MAG) Price Target to $20.00

MAG Silver (NYSEAMERICAN:MAG) had its target price lifted by HC Wainwright from $18.00 to $20.00 in a research report sent to investors on Wednesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other equities research analysts have also weighed in on the stock. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Scotiabank raised their target price on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and upped their price target for the company from $17.00 to $17.50 in a research report on Thursday, October 24th. Finally, Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, MAG Silver has an average rating of “Hold” and an average price target of $18.38.

MAG Silver Price Performance

Shares of NYSEAMERICAN:MAG opened at $14.78 on Wednesday. MAG Silver has a 52-week low of $8.19 and a 52-week high of $18.27. The firm has a market cap of $1.53 billion, a PE ratio of 21.44 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last posted its earnings results on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. On average, sell-side analysts anticipate that MAG Silver will post 0.71 EPS for the current year.

Institutional Investors Weigh In On MAG Silver

Large investors have recently added to or reduced their stakes in the business. Perritt Capital Management Inc. acquired a new stake in MAG Silver in the first quarter worth $26,000. Capital Performance Advisors LLP acquired a new stake in shares of MAG Silver in the 3rd quarter valued at about $28,000. Quantbot Technologies LP bought a new stake in shares of MAG Silver during the third quarter valued at approximately $52,000. Addenda Capital Inc. acquired a new position in shares of MAG Silver during the second quarter worth approximately $123,000. Finally, Pekin Hardy Strauss Inc. bought a new position in shares of MAG Silver in the 3rd quarter worth $140,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

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.