Shares of MAG Silver Corp. (NYSEAMERICAN:MAG – Get Free Report) rose 4% on Thursday after HC Wainwright raised their price target on the stock from $16.00 to $17.00. HC Wainwright currently has a buy rating on the stock. MAG Silver traded as high as $12.70 and last traded at $12.55. Approximately 459,136 shares were traded during trading, a decline of 46% from the average daily volume of 849,838 shares. The stock had previously closed at $12.07.
A number of other brokerages have also weighed in on MAG. StockNews.com upgraded MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Scotiabank upgraded MAG Silver from a “sector perform” rating to a “sector outperform” rating and cut their price objective for the stock from $15.00 to $13.50 in a research report on Thursday, March 28th. Finally, Stifel Nicolaus cut their price objective on MAG Silver from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.25.
Institutional Inflows and Outflows
MAG Silver Stock Up 4.5 %
The company has a market cap of $1.30 billion, a PE ratio of 26.11 and a beta of 1.15.
MAG Silver (NYSEAMERICAN:MAG – Get Free Report) last announced its quarterly earnings data on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Analysts expect that MAG Silver Corp. will post 0.5 earnings per share for the current fiscal year.
MAG Silver Company Profile
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.
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