MAG Silver (NYSEAMERICAN:MAG) Rating Reiterated by HC Wainwright

MAG Silver (NYSEAMERICAN:MAG)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research note issued to investors on Monday, Benzinga reports. They presently have a $19.50 price objective on the stock. HC Wainwright’s price target suggests a potential upside of 88.04% from the company’s current price.

MAG has been the topic of several other reports. BMO Capital Markets assumed coverage on shares of MAG Silver in a report on Thursday, September 14th. They issued an “outperform” rating and a $23.50 price target on the stock. StockNews.com initiated coverage on shares of MAG Silver in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. Finally, Scotiabank cut their price objective on MAG Silver from $16.00 to $15.50 in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $23.09.

MAG Silver Price Performance

MAG opened at $10.37 on Monday. The firm has a market capitalization of $1.07 billion, a PE ratio of 32.41 and a beta of 1.11. MAG Silver has a 12 month low of $9.60 and a 12 month high of $17.02.

MAG Silver (NYSEAMERICAN:MAG) last posted its earnings results on Friday, November 10th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). Research analysts expect that MAG Silver will post 0.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MAG. Gilder Gagnon Howe & Co. LLC grew its stake in shares of MAG Silver by 2.5% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 1,378,592 shares of the company’s stock valued at $17,467,000 after purchasing an additional 33,763 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in MAG Silver by 0.9% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 354,221 shares of the company’s stock valued at $3,946,000 after buying an additional 3,224 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of MAG Silver by 8.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 40,884 shares of the company’s stock worth $518,000 after acquiring an additional 3,248 shares during the period. Virtu Financial LLC acquired a new position in shares of MAG Silver during the first quarter worth about $181,000. Finally, Van ECK Associates Corp raised its holdings in MAG Silver by 1.2% during the first quarter. Van ECK Associates Corp now owns 3,930,180 shares of the company’s stock worth $49,795,000 after purchasing an additional 46,326 shares in the last quarter. Hedge funds and other institutional investors own 42.80% of the company’s stock.

About MAG Silver

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