MAG Silver (NYSEAMERICAN:MAG – Free Report) had its price objective upped by HC Wainwright from $20.00 to $21.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.
Several other equities research analysts have also recently weighed in on MAG. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Mkm cut 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 note on Thursday, October 24th. Finally, Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $18.63.
MAG Silver Stock Performance
MAG Silver (NYSEAMERICAN:MAG – Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. Research analysts anticipate that MAG Silver will post 0.74 earnings per share for the current fiscal year.
Institutional Trading of MAG Silver
Hedge funds and other institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC boosted its position in MAG Silver by 304.8% during the second quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock valued at $299,000 after buying an additional 19,253 shares during the period. Mackenzie Financial Corp boosted its holdings in MAG Silver by 310.5% during the 2nd quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock valued at $2,224,000 after acquiring an additional 144,007 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in MAG Silver during the 2nd quarter worth approximately $161,000. Veracity Capital LLC grew its position in MAG Silver by 16.8% during the 3rd quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock worth $234,000 after acquiring an additional 2,396 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in MAG Silver in the 3rd quarter worth approximately $148,000. Hedge funds and other institutional investors own 52.50% of the company’s stock.
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.
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