MAG Silver (NYSEAMERICAN:MAG) Stock Price Expected to Rise, HC Wainwright Analyst Says

MAG Silver (NYSEAMERICAN:MAG) had its price target hoisted by equities researchers at HC Wainwright from $21.00 to $22.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 37.33% from the stock’s current price.

Separately, TD Securities raised shares of MAG Silver to a “strong-buy” rating in a research report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, MAG Silver currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

MAG Silver Stock Performance

Shares of MAG stock opened at $16.02 on Tuesday. MAG Silver has a fifty-two week low of $9.11 and a fifty-two week high of $18.27. The business has a 50-day moving average price of $15.62. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 22.56 and a beta of 1.09.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in MAG Silver in the 3rd quarter valued at approximately $52,000. DF Dent & Co. Inc. bought a new stake in shares of MAG Silver in the third quarter valued at approximately $140,000. Pekin Hardy Strauss Inc. acquired a new stake in shares of MAG Silver in the third quarter worth $140,000. Aigen Investment Management LP bought a new position in MAG Silver during the fourth quarter worth $156,000. Finally, D. E. Shaw & Co. Inc. acquired a new position in MAG Silver during the 4th quarter valued at $156,000. 52.50% of the stock is currently owned by institutional investors and hedge funds.

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.