HC Wainwright Forecasts Strong Price Appreciation for MAG Silver (NYSEAMERICAN:MAG) Stock

MAG Silver (NYSEAMERICAN:MAG) had its price objective lifted by HC Wainwright from $20.00 to $21.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for MAG Silver’s FY2025 earnings at $0.82 EPS.

MAG has been the subject of a number of other research reports. Roth Capital cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Mkm cut shares of MAG Silver from a “buy” rating to a “neutral” rating and raised their price target for the stock from $17.00 to $17.50 in a research note on Thursday, October 24th. Finally, StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a 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 data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.63.

MAG Silver Stock Performance

Shares of MAG opened at $15.80 on Thursday. The stock has a market cap of $1.63 billion, a P/E ratio of 22.25 and a beta of 1.08. MAG Silver has a 12-month low of $8.19 and a 12-month high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Analysts anticipate that MAG Silver will post 0.74 EPS for the current fiscal year.

Institutional Trading of MAG Silver

Several hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc raised its holdings in shares of MAG Silver by 0.7% in the fourth quarter. CIBC Asset Management Inc now owns 114,355 shares of the company’s stock valued at $1,550,000 after buying an additional 755 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of MAG Silver in the third quarter worth about $28,000. Veracity Capital LLC raised its stake in shares of MAG Silver by 16.8% in the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock worth $234,000 after acquiring an additional 2,396 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of MAG Silver during the third quarter worth approximately $52,000. Finally, DF Dent & Co. Inc. bought a new stake in shares of MAG Silver during the third quarter valued at approximately $140,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

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.