MAG Silver (NYSEAMERICAN:MAG) Price Target Raised to $18.00

MAG Silver (NYSEAMERICAN:MAGFree Report) had its price target increased by HC Wainwright from $17.00 to $18.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for MAG Silver’s FY2024 earnings at $0.67 EPS.

A number of other research analysts have also issued reports on MAG. Stifel Nicolaus boosted their price target on MAG Silver from $20.25 to $20.50 and gave the stock a buy rating in a research report on Wednesday, May 15th. Scotiabank increased their target price on shares of MAG Silver from $13.50 to $14.50 and gave the company a sector outperform rating in a research report on Thursday, May 23rd. Finally, Ventum Cap Mkts downgraded shares of MAG Silver from a buy rating to a neutral rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $19.13.

Check Out Our Latest Research Report on MAG

MAG Silver Stock Performance

Shares of MAG stock traded up $0.29 during trading hours on Monday, reaching $12.22. The company had a trading volume of 622,550 shares, compared to its average volume of 768,243. The firm has a market cap of $1.26 billion, a P/E ratio of 21.32 and a beta of 1.12. MAG Silver has a twelve month low of $8.19 and a twelve month high of $14.30.

MAG Silver (NYSEAMERICAN:MAGGet Free Report) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. On average, equities research analysts predict that MAG Silver will post 0.65 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Perritt Capital Management Inc. bought a new stake in MAG Silver during the 1st quarter worth approximately $26,000. Addenda Capital Inc. acquired a new position in shares of MAG Silver during the 2nd quarter worth approximately $123,000. Banque Cantonale Vaudoise raised its position in MAG Silver by 8.6% during the first 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. Duality Advisers LP acquired a new stake in MAG Silver in the fourth quarter valued at $255,000. Finally, Private Advisor Group LLC grew its position in shares of MAG Silver by 6.1% in the 4th quarter. Private Advisor Group LLC now owns 24,986 shares of the company’s stock valued at $260,000 after acquiring an additional 1,447 shares during the period. Institutional investors and hedge funds own 52.50% of the company’s stock.

About MAG Silver

(Get Free Report)

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.

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Analyst Recommendations for MAG Silver (NYSEAMERICAN:MAG)

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