MAG Silver (NYSEAMERICAN:MAG) Price Target Raised to $22.00 at HC Wainwright

MAG Silver (NYSEAMERICAN:MAG) had its price target lifted by analysts at HC Wainwright from $21.00 to $22.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price indicates a potential upside of 31.26% from the company’s previous close.

Separately, TD Securities upgraded MAG Silver to a “strong-buy” rating in a report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.88.

MAG Silver Stock Performance

Shares of MAG stock opened at $16.76 on Tuesday. MAG Silver has a 1-year low of $8.97 and a 1-year high of $18.27. The business’s 50-day moving average is $15.53. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 23.61 and a beta of 1.09.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new position in shares of MAG Silver during the third quarter worth $52,000. DF Dent & Co. Inc. acquired a new position in MAG Silver in the 3rd quarter worth $140,000. Pekin Hardy Strauss Inc. purchased a new position in MAG Silver in the 3rd quarter valued at about $140,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of MAG Silver during the fourth quarter valued at about $156,000. Finally, Aigen Investment Management LP acquired a new stake in shares of MAG Silver during the fourth quarter valued at about $156,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.