HC Wainwright Reiterates $19.00 Price Target for MAG Silver (MAG)

HC Wainwright set a $19.00 price target on MAG Silver (NYSEAMERICAN:MAG) in a research note issued to investors on Monday. The firm currently has a buy rating on the stock.

“We highlight that Fresnillo has recently reiterated its expectation of initial production from the site as early as mid-2020.”,” HC Wainwright’s analyst wrote.

Several other brokerages have also recently issued reports on MAG. Zacks Investment Research cut MAG Silver from a buy rating to a hold rating in a report on Thursday, July 19th. National Bank Financial restated an outperform spec market weight rating on shares of MAG Silver in a report on Sunday, August 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $16.00.

Shares of NYSEAMERICAN:MAG opened at $7.81 on Monday. MAG Silver has a 52-week low of $7.04 and a 52-week high of $12.78.

MAG Silver (NYSEAMERICAN:MAG) last issued its earnings results on Tuesday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by ($0.01).

Several institutional investors have recently made changes to their positions in MAG. OLD Mission Capital LLC acquired a new position in shares of MAG Silver in the 2nd quarter valued at $120,000. Bank of America Corp DE lifted its stake in shares of MAG Silver by 257.5% in the 2nd quarter. Bank of America Corp DE now owns 12,294 shares of the company’s stock valued at $133,000 after purchasing an additional 8,855 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in shares of MAG Silver in the 2nd quarter valued at $164,000. BlackRock Inc. lifted its stake in shares of MAG Silver by 124.7% in the 2nd quarter. BlackRock Inc. now owns 15,236 shares of the company’s stock valued at $165,000 after purchasing an additional 8,454 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of MAG Silver in the 2nd quarter valued at $181,000.

MAG Silver Company Profile

MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Canada. It explores for copper, gold, silver, lead, and zinc deposits. The company primarily holds interests in the Juanicipio property covering 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.

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