MAG Silver (NYSEAMERICAN:MAG) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of MAG Silver (NYSEAMERICAN:MAG) in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a $17.00 price target on the stock.

A number of other analysts have also weighed in on MAG. Scotiabank increased their price objective on shares of MAG Silver from $13.50 to $14.50 and gave the stock a sector outperform rating in a research note on Thursday, May 23rd. Stifel Nicolaus increased their price objective on shares of MAG Silver from $20.25 to $20.50 and gave the stock a buy rating in a research note on Wednesday, May 15th. StockNews.com upgraded shares of MAG Silver to a sell rating in a research note on Wednesday, March 27th. Finally, Ventum Cap Mkts lowered shares of MAG Silver from a buy rating to a neutral rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, MAG Silver currently has a consensus rating of Moderate Buy and a consensus price target of $18.88.

MAG Silver Trading Up 0.9 %

Shares of MAG Silver stock opened at $13.07 on Wednesday. MAG Silver has a 12-month low of $8.19 and a 12-month high of $14.30. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 23.34 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. Research analysts forecast that MAG Silver will post 0.63 EPS for the current year.

Hedge Funds Weigh In On MAG Silver

Several hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp lifted its stake in shares of MAG Silver by 7.5% in the first quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock worth $105,603,000 after buying an additional 696,140 shares in the last quarter. First Eagle Investment Management LLC increased its position in MAG Silver by 11.2% during the fourth quarter. First Eagle Investment Management LLC now owns 6,380,120 shares of the company’s stock worth $66,402,000 after purchasing an additional 642,494 shares during the last quarter. Jupiter Asset Management Ltd. increased its position in MAG Silver by 6.5% during the first quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock worth $26,584,000 after purchasing an additional 153,274 shares during the last quarter. Tidal Investments LLC acquired a new stake in MAG Silver during the first quarter worth about $22,518,000. Finally, Azarias Capital Management L.P. increased its position in MAG Silver by 73.7% during the first quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock worth $14,866,000 after purchasing an additional 596,283 shares during the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.