MAG Silver (NYSEAMERICAN:MAG) Price Target Raised to $18.50

MAG Silver (NYSEAMERICAN:MAG) had its price target raised by HC Wainwright from $16.50 to $18.50 in a research note released on Monday, BenzingaRatingsTable reports. They currently have a buy rating on the stock.

Separately, Zacks Investment Research raised shares of MAG Silver from a hold rating to a strong-buy rating and set a $12.00 price target on the stock in a report on Thursday, July 18th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $16.50.

Shares of NYSEAMERICAN:MAG opened at $11.97 on Monday. MAG Silver has a fifty-two week low of $6.12 and a fifty-two week high of $12.95.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings results on Monday, August 12th. The company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAG. Tocqueville Asset Management L.P. increased its position in shares of MAG Silver by 18.3% during the first quarter. Tocqueville Asset Management L.P. now owns 7,917,725 shares of the company’s stock valued at $84,429,000 after buying an additional 1,222,800 shares during the period. Van ECK Associates Corp increased its position in shares of MAG Silver by 4.3% during the second quarter. Van ECK Associates Corp now owns 3,931,156 shares of the company’s stock valued at $41,434,000 after buying an additional 160,423 shares during the period. Bank of Montreal Can increased its position in shares of MAG Silver by 268.1% during the second quarter. Bank of Montreal Can now owns 1,671,131 shares of the company’s stock valued at $17,614,000 after buying an additional 1,217,142 shares during the period. Gilder Gagnon Howe & Co. LLC increased its position in shares of MAG Silver by 98.6% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,608,390 shares of the company’s stock valued at $17,145,000 after buying an additional 798,570 shares during the period. Finally, Morgan Stanley increased its position in shares of MAG Silver by 6.3% during the second quarter. Morgan Stanley now owns 1,478,162 shares of the company’s stock valued at $15,579,000 after buying an additional 87,700 shares during the period.

MAG Silver Company Profile

MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Mexico. It explores for silver, gold, lead, and zinc deposits. The company primarily holds interest in the Juanicipio property covering an area of approximately 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.

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Analyst Recommendations for MAG Silver (NYSEAMERICAN:MAG)

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