MAG Silver (NYSEAMERICAN:MAG) had its price target raised by Raymond James from C$27.00 to C$28.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the stock. Raymond James also issued estimates for MAG Silver’s Q2 2022 earnings at $0.27 EPS, Q3 2022 earnings at $0.30 EPS and Q4 2022 earnings at $0.31 EPS.
MAG has been the subject of a number of other reports. HC Wainwright boosted their price target on MAG Silver from $21.50 to $22.50 and gave the company a “buy” rating in a report on Wednesday, May 19th. Zacks Investment Research upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, June 3rd. Finally, CIBC upped their price objective on MAG Silver from C$27.00 to C$29.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 19th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.06.
MAG Silver stock opened at $23.61 on Wednesday. The business’s 50 day moving average is $17.23. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 590.40 and a beta of 1.05. MAG Silver has a one year low of $11.24 and a one year high of $24.43.
Large investors have recently added to or reduced their stakes in the company. Guild Investment Management Inc. bought a new position in shares of MAG Silver in the first quarter worth $315,000. CWM LLC grew its stake in shares of MAG Silver by 16.8% in the first quarter. CWM LLC now owns 7,851 shares of the company’s stock worth $118,000 after purchasing an additional 1,129 shares in the last quarter. Fiera Capital Corp grew its stake in shares of MAG Silver by 2.5% in the fourth quarter. Fiera Capital Corp now owns 942,857 shares of the company’s stock worth $19,244,000 after purchasing an additional 23,309 shares in the last quarter. Hollencrest Capital Management grew its stake in shares of MAG Silver by 13.1% in the first quarter. Hollencrest Capital Management now owns 17,549 shares of the company’s stock worth $264,000 after purchasing an additional 2,038 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its stake in shares of MAG Silver by 131.4% in the first quarter. Banque Cantonale Vaudoise now owns 31,754 shares of the company’s stock worth $478,000 after purchasing an additional 18,032 shares in the last quarter. 38.82% of the stock is owned by institutional investors.
MAG Silver Company Profile
MAG Silver Corp. engages in the exploration and development of silver mining properties. It also explores for gold, lead, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. The company was incorporated in 2003 and is headquartered in Vancouver, Canada.
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