MAG Silver (NYSEAMERICAN:MAG) Shares Up 7.9% on Analyst Upgrade

MAG Silver Corp. (NYSEAMERICAN:MAGGet Free Report)’s share price traded up 7.9% on Thursday after HC Wainwright raised their price target on the stock from $20.00 to $21.00. HC Wainwright currently has a buy rating on the stock. MAG Silver traded as high as $16.45 and last traded at $16.45. 209,683 shares traded hands during trading, a decline of 52% from the average session volume of 440,911 shares. The stock had previously closed at $15.25.

A number of other equities analysts have also recently issued reports on the company. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. Finally, Roth Capital downgraded 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.63.

Check Out Our Latest Analysis on MAG

Hedge Funds Weigh In On MAG Silver

Several large investors have recently made changes to their positions in MAG. Cubist Systematic Strategies LLC lifted its position in shares of MAG Silver by 304.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock worth $299,000 after purchasing an additional 19,253 shares during the last quarter. Mackenzie Financial Corp increased its stake in MAG Silver by 310.5% during the second 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 second quarter valued at about $161,000. Veracity Capital LLC increased its stake in MAG Silver by 16.8% during the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after acquiring an additional 2,396 shares during the period. Finally, International Assets Investment Management LLC bought a new position in MAG Silver during the third quarter valued at about $148,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Stock Up 6.8 %

The company has a market cap of $1.68 billion, a PE ratio of 22.93 and a beta of 1.08.

MAG Silver (NYSEAMERICAN:MAGGet Free Report) last issued 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. As a group, equities analysts forecast that MAG Silver Corp. will post 0.74 EPS for the current fiscal year.

MAG Silver Company Profile

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for MAG Silver Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MAG Silver and related companies with MarketBeat.com's FREE daily email newsletter.