MAG Silver (NYSEAMERICAN:MAG) Earns Buy Rating from HC Wainwright

MAG Silver (NYSEAMERICAN:MAG)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $21.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 31.50% from the stock’s previous close.

MAG Silver Stock Performance

Shares of NYSEAMERICAN MAG opened at $15.97 on Tuesday. The company has a market cap of $1.65 billion, a PE ratio of 22.49 and a beta of 1.09. MAG Silver has a 12 month low of $8.19 and a 12 month high of $18.27.

Institutional Investors Weigh In On MAG Silver

A number of institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp grew its stake in MAG Silver by 4.8% in the 3rd 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 during the period. First Eagle Investment Management LLC grew its stake in MAG Silver by 46.4% in the 4th quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company’s stock valued at $106,379,000 after acquiring an additional 2,486,538 shares during the period. Tidal Investments LLC grew its stake in MAG Silver by 3.6% in the 3rd quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock valued at $39,453,000 after acquiring an additional 98,312 shares during the period. Sprott Inc. grew its stake in MAG Silver by 8.5% in the 4th quarter. Sprott Inc. now owns 2,649,507 shares of the company’s stock valued at $36,004,000 after acquiring an additional 208,252 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in MAG Silver by 6.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,161,605 shares of the company’s stock valued at $15,762,000 after acquiring an additional 73,205 shares during the period. Institutional investors and hedge funds own 52.50% of the company’s stock.

About MAG Silver

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.