MAG Silver (NYSEAMERICAN:MAG) Price Target Raised to $21.00 at HC Wainwright

MAG Silver (NYSEAMERICAN:MAG - Free Report) had its price objective boosted by HC Wainwright from $20.00 to $21.00 in a report published 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.

Other equities analysts have also issued reports about the stock. Roth Capital lowered shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 24th. Roth Mkm cut MAG Silver from a "buy" rating to a "neutral" rating and upped their target price for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. Finally, StockNews.com upgraded MAG Silver from a "sell" rating to a "hold" rating in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $18.63.

MAG Silver Trading Up 0.9 %

Shares of MAG Silver stock traded up $0.14 on Thursday, reaching $15.94. The stock had a trading volume of 827,521 shares, compared to its average volume of 484,620. MAG Silver has a fifty-two week low of $8.19 and a fifty-two week high of $18.27. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 22.45 and a beta of 1.09.

MAG Silver (NYSEAMERICAN:MAG - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. As a group, research analysts predict that MAG Silver will post 0.75 earnings per share for the current year.

Institutional Investors Weigh In On MAG Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAG. Mackenzie Financial Corp raised its stake in MAG Silver by 310.5% during the second quarter. Mackenzie Financial Corp now owns 190,385 shares of the company's stock worth $2,224,000 after purchasing an additional 144,007 shares during the period. Barclays PLC increased its holdings in MAG Silver by 211.5% during the 3rd quarter. Barclays PLC now owns 30,780 shares of the company's stock worth $432,000 after purchasing an additional 20,899 shares during the period. Van ECK Associates Corp raised its holdings in MAG Silver by 4.8% in the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company's stock valued at $143,649,000 after acquiring an additional 467,817 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of MAG Silver by 69.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company's stock worth $6,407,000 after purchasing an additional 186,445 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. boosted its position in shares of MAG Silver by 38.1% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company's stock worth $5,196,000 after acquiring an additional 101,870 shares in the last quarter. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

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.