Scotiabank Raises MAG Silver (NYSEAMERICAN:MAG) Price Target to $14.50

MAG Silver (NYSEAMERICAN:MAGGet Free Report) had its price objective raised by analysts at Scotiabank from $13.50 to $14.50 in a research report issued on Thursday, Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 10.60% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of MAG Silver in a research report on Thursday, May 16th. StockNews.com raised shares of MAG Silver to a “sell” rating in a report on Wednesday, March 27th. Ventum Cap Mkts cut shares of MAG Silver from a “buy” rating to a “neutral” rating in a report on Friday, May 3rd. Finally, Stifel Nicolaus upped their price target on shares of MAG Silver from $20.25 to $20.50 and gave the company a “buy” rating in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.88.

Read Our Latest Stock Report on MAG Silver

MAG Silver Price Performance

Shares of NYSEAMERICAN MAG traded down $0.24 during midday trading on Thursday, reaching $13.11. 432,547 shares of the stock were exchanged, compared to its average volume of 853,844. The company has a market cap of $1.35 billion, a PE ratio of 23.41 and a beta of 1.10. MAG Silver has a 52-week low of $8.19 and a 52-week high of $14.30.

MAG Silver (NYSEAMERICAN:MAGGet Free Report) last released its 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. On average, analysts anticipate that MAG Silver will post 0.59 EPS for the current year.

Institutional Trading of MAG Silver

Institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC acquired a new stake in shares of MAG Silver in the 1st quarter worth about $22,518,000. Azarias Capital Management L.P. acquired a new stake in shares of MAG Silver in the 4th quarter worth about $8,420,000. Van ECK Associates Corp increased its holdings in shares of MAG Silver by 7.5% in the 1st quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock worth $105,603,000 after acquiring an additional 696,140 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of MAG Silver by 11.2% in the 4th quarter. First Eagle Investment Management LLC now owns 6,380,120 shares of the company’s stock worth $66,402,000 after acquiring an additional 642,494 shares during the period. Finally, Janus Henderson Group PLC acquired a new stake in shares of MAG Silver in the 1st quarter worth about $3,925,000. Institutional investors own 52.50% of the company’s stock.

About MAG Silver

(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.

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