MAG Silver (NYSEAMERICAN:MAG) PT Raised to C$26.50

MAG Silver (NYSEAMERICAN:MAG – Get Rating) had its target price lifted by stock analysts at National Bank Financial from C$24.50 to C$26.50 in a research note issued to investors on Friday, The Fly reports.

Several other research firms have also recently weighed in on MAG. TD Securities lifted their price target on shares of MAG Silver from C$24.00 to C$28.00 in a report on Tuesday, November 15th. Stifel Nicolaus cut their price target on shares of MAG Silver from C$28.75 to C$28.25 in a report on Tuesday, November 15th.

MAG Silver Trading Down 0.3 %

Shares of NYSEAMERICAN MAG opened at $16.23 on Friday. MAG Silver has a one year low of $10.32 and a one year high of $19.58. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 57.96 and a beta of 1.08.

MAG Silver (NYSEAMERICAN:MAG – Get Rating) last issued its earnings results on Monday, November 14th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.03). As a group, sell-side analysts predict that MAG Silver will post 0.41 EPS for the current fiscal year.

Hedge Funds Weigh In On MAG Silver

Several large investors have recently modified their holdings of the stock. MinichMacGregor Wealth Management LLC bought a new stake in MAG Silver in the 4th quarter worth about $78,000. Balyasny Asset Management LLC bought a new stake in MAG Silver in the 3rd quarter worth about $308,000. Alliancebernstein L.P. bought a new stake in MAG Silver in the 3rd quarter worth about $152,000. Knoll Capital Management LLC increased its holdings in MAG Silver by 177.5% in the 3rd quarter. Knoll Capital Management LLC now owns 48,000 shares of the company’s stock worth $599,000 after buying an additional 30,700 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in MAG Silver by 313.2% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 52,204 shares of the company’s stock worth $652,000 after buying an additional 39,570 shares in the last quarter. Hedge funds and other institutional investors own 40.06% of the company’s stock.

About MAG Silver

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MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. The company is headquartered in Vancouver, Canada.