MAG Silver (NYSEAMERICAN:MAG) Raised to “Strong-Buy” at TD Securities

MAG Silver (NYSEAMERICAN:MAG) was upgraded by investment analysts at TD Securities to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $21.00 price target on shares of MAG Silver in a research report on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $18.63.

MAG Silver Price Performance

Shares of MAG opened at $15.22 on Monday. MAG Silver has a 12 month low of $8.94 and a 12 month high of $18.27. The stock’s fifty day simple moving average is $15.12. The firm has a market capitalization of $1.57 billion, a PE ratio of 21.44 and a beta of 1.09.

Institutional Investors Weigh In On MAG Silver

Hedge funds have recently added to or reduced their stakes in the business. Integrated Advisors Network LLC increased its stake in shares of MAG Silver by 38.7% in the 4th quarter. Integrated Advisors Network LLC now owns 61,250 shares of the company’s stock valued at $833,000 after acquiring an additional 17,100 shares in the last quarter. Two Sigma Investments LP bought a new stake in shares of MAG Silver in the 4th quarter valued at $401,000. Millennium Management LLC increased its stake in shares of MAG Silver by 3,324.7% in the 4th quarter. Millennium Management LLC now owns 886,203 shares of the company’s stock valued at $12,052,000 after acquiring an additional 860,326 shares in the last quarter. Eschler Asset Management LLP increased its stake in shares of MAG Silver by 83.3% in the 4th quarter. Eschler Asset Management LLP now owns 55,000 shares of the company’s stock valued at $748,000 after acquiring an additional 25,000 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of MAG Silver in the 4th quarter valued at $156,000. 52.50% of the stock is currently owned by institutional investors and hedge funds.

MAG Silver Company Profile

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.