HC Wainwright Increases MAG Silver (NYSEAMERICAN:MAG) Price Target to $22.00

MAG Silver (NYSEAMERICAN:MAG) had its target price hoisted by investment analysts at HC Wainwright from $21.00 to $22.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 31.26% from the stock’s previous close.

Separately, TD Securities raised MAG Silver to a “strong-buy” rating in a report on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MAG Silver has a consensus rating of “Moderate Buy” and a consensus target price of $18.88.

MAG Silver Stock Performance

NYSEAMERICAN MAG opened at $16.76 on Tuesday. The business’s 50-day moving average is $15.53. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 23.61 and a beta of 1.09. MAG Silver has a 52-week low of $8.97 and a 52-week high of $18.27.

Institutional Trading of MAG Silver

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

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.