HC Wainwright Reiterates Buy Rating for MAG Silver (MAG)

MAG Silver (NYSEAMERICAN:MAG)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Tuesday. They currently have a $19.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 90.19% from the company’s previous close.

Several other brokerages have also weighed in on MAG. Zacks Investment Research lowered shares of MAG Silver from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Raymond James Financial restated an “outperform” rating on shares of MAG Silver in a report on Tuesday, November 21st. BMO Capital Markets began coverage on shares of MAG Silver in a report on Friday, November 17th. They issued a “buy” rating on the stock. Finally, BidaskClub lowered shares of MAG Silver from a “sell” rating to a “strong sell” rating in a report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $16.60.

MAG Silver (MAG) opened at $9.99 on Tuesday. MAG Silver has a twelve month low of $9.29 and a twelve month high of $16.78. The firm has a market cap of $786.48, a P/E ratio of -15.37 and a beta of 0.19.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Monday, November 13th. The company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01.

A number of large investors have recently modified their holdings of MAG. UBS Asset Management Americas Inc. increased its stake in MAG Silver by 12.5% in the second quarter. UBS Asset Management Americas Inc. now owns 25,159 shares of the company’s stock valued at $328,000 after purchasing an additional 2,800 shares in the last quarter. Vanguard Group Inc. increased its position in shares of MAG Silver by 10.4% during the second quarter. Vanguard Group Inc. now owns 22,465 shares of the company’s stock worth $301,000 after acquiring an additional 2,111 shares in the last quarter. FMR LLC increased its position in shares of MAG Silver by 12.4% during the second quarter. FMR LLC now owns 420,400 shares of the company’s stock worth $5,488,000 after acquiring an additional 46,400 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of MAG Silver by 337.9% during the second quarter. Goldman Sachs Group Inc. now owns 80,724 shares of the company’s stock worth $1,053,000 after acquiring an additional 62,288 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of MAG Silver during the second quarter worth $196,000.

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MAG Silver Company Profile

MAG Silver Corp. is a mineral exploration and development company. The Company is focused on the acquisition, exploration and development of projects located within the Mexican silver belt. The Company operates through the exploration of mineral properties in Mexico segment. The Company’s projects include Juanicipio Property, Cinco De Mayo Property and Guigui Property.

Analyst Recommendations for MAG Silver (NYSEAMERICAN:MAG)

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