HC Wainwright Issues Positive Forecast for MAG Silver (NYSEAMERICAN:MAG) Stock Price

MAG Silver (NYSEAMERICAN:MAG) had its price target raised by HC Wainwright from $18.00 to $20.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 31.15% from the stock’s current price.

MAG has been the subject of a number of other research reports. Roth Mkm downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating and increased their target price for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Scotiabank raised their price target on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, MAG Silver presently has a consensus rating of “Hold” and an average target price of $18.38.

MAG Silver Price Performance

MAG Silver stock opened at $15.25 on Wednesday. MAG Silver has a 52 week low of $8.19 and a 52 week high of $18.27. The company has a market capitalization of $1.58 billion, a P/E ratio of 26.29 and a beta of 1.12.

Institutional Trading of MAG Silver

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MAG. Van ECK Associates Corp boosted its position in MAG Silver by 4.8% in the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after buying an additional 467,817 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in MAG Silver by 6.5% in the first quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock valued at $26,584,000 after buying an additional 153,274 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of MAG Silver during the first quarter worth approximately $22,518,000. TD Asset Management Inc lifted its position in shares of MAG Silver by 118.3% during the second quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock worth $12,415,000 after purchasing an additional 576,156 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of MAG Silver during the second quarter worth approximately $9,932,000. Institutional investors 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.