MAG Silver (NYSEAMERICAN:MAG) Shares Up 7.9% on Analyst Upgrade

MAG Silver Corp. (NYSEAMERICAN:MAG) traded up 7.9% during trading on Thursday after HC Wainwright raised their price target on the stock from $20.00 to $21.00. HC Wainwright currently has a buy rating on the stock. MAG Silver traded as high as $16.45 and last traded at $16.45. 209,683 shares traded hands during trading, a decline of 52% from the average session volume of 440,911 shares. The stock had previously closed at $15.25.

Other equities research analysts have also issued reports about the company. Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and increased their price target for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Roth Capital lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $18.63.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new position in shares of MAG Silver in the 4th quarter valued at $240,000. Allspring Global Investments Holdings LLC lifted its stake in shares of MAG Silver by 56.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 278,000 shares of the company’s stock valued at $3,781,000 after purchasing an additional 100,500 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of MAG Silver by 69.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock valued at $6,407,000 after purchasing an additional 186,445 shares during the period. Tidal Investments LLC lifted its stake in shares of MAG Silver by 3.6% in the 3rd quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock valued at $39,453,000 after purchasing an additional 98,312 shares during the period. Finally, Barclays PLC lifted its stake in shares of MAG Silver by 211.5% in the 3rd quarter. Barclays PLC now owns 30,780 shares of the company’s stock valued at $432,000 after purchasing an additional 20,899 shares during the period. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Price Performance

The company has a market cap of $1.68 billion, a price-to-earnings ratio of 22.93 and a beta of 1.08.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. On average, equities research analysts anticipate that MAG Silver Corp. will post 0.74 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.