MAG Silver (NYSEAMERICAN:MAG) Shares Up 4% on Analyst Upgrade

MAG Silver Corp. (NYSEAMERICAN:MAG)’s stock price traded up 4% on Thursday after HC Wainwright raised their price target on the stock from $16.00 to $17.00. HC Wainwright currently has a buy rating on the stock. MAG Silver traded as high as $12.70 and last traded at $12.55. 459,136 shares changed hands during trading, a decline of 46% from the average session volume of 849,838 shares. The stock had previously closed at $12.07.

Other analysts have also recently issued reports about the stock. Scotiabank upgraded shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and decreased their price target for the stock from $15.00 to $13.50 in a report on Thursday, March 28th. StockNews.com upgraded shares of MAG Silver to a “sell” rating in a report on Wednesday, March 27th. Finally, Stifel Nicolaus decreased their price target on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.25.

Institutional Investors Weigh In On MAG Silver

A number of institutional investors have recently bought and sold shares of the business. Banque Cantonale Vaudoise boosted its stake in MAG Silver by 8.6% during the first quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock worth $116,000 after buying an additional 876 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of MAG Silver by 6.1% in the 4th quarter. Private Advisor Group LLC now owns 24,986 shares of the company’s stock valued at $260,000 after purchasing an additional 1,447 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of MAG Silver by 3.0% in the 4th quarter. CIBC Asset Management Inc now owns 90,881 shares of the company’s stock valued at $949,000 after purchasing an additional 2,652 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in shares of MAG Silver by 12.2% in the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 29,400 shares of the company’s stock valued at $307,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of MAG Silver by 6.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock valued at $665,000 after purchasing an additional 3,950 shares in the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Trading Up 4.5 %

The company has a market cap of $1.30 billion, a P/E ratio of 26.11 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last issued its earnings results on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. On average, equities research analysts forecast that MAG Silver Corp. will post 0.5 earnings per share for the current year.

About MAG Silver

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.