MAG Silver (NYSEAMERICAN:MAG) PT Raised to $15.50

MAG Silver (NYSEAMERICAN:MAG) had its price objective raised by equities research analysts at Scotiabank from $14.50 to $15.50 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price target would indicate a potential upside of 16.10% from the stock’s current price.

MAG has been the topic of a number of other research reports. Stifel Nicolaus raised their price objective on shares of MAG Silver from $20.25 to $20.50 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Ventum Cap Mkts downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating in a report on Friday, May 3rd. Finally, HC Wainwright lifted their price target on shares of MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, August 5th. 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 company’s stock. According to data from MarketBeat, MAG Silver presently has an average rating of “Moderate Buy” and an average price target of $19.38.

MAG Silver Price Performance

Shares of MAG Silver stock traded up $0.34 during trading on Monday, hitting $13.35. The company’s stock had a trading volume of 216,792 shares, compared to its average volume of 749,106. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 23.84 and a beta of 1.12. MAG Silver has a 52 week low of $8.19 and a 52 week high of $14.30.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. On average, equities analysts anticipate that MAG Silver will post 0.65 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MAG. Perritt Capital Management Inc. bought a new position in shares of MAG Silver in the first quarter worth about $26,000. Banque Cantonale Vaudoise grew its holdings in MAG Silver by 8.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock worth $116,000 after acquiring an additional 876 shares in the last quarter. Addenda Capital Inc. bought a new position in MAG Silver during the 2nd quarter worth about $123,000. Susquehanna Fundamental Investments LLC bought a new position in MAG Silver during the 2nd quarter worth about $161,000. Finally, Duality Advisers LP purchased a new stake in shares of MAG Silver during the fourth quarter valued at about $255,000. 52.50% of the stock is currently owned by institutional investors.

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.