MAG Silver (NYSEAMERICAN:MAG) Price Target Increased to $14.50 by Analysts at Scotiabank

MAG Silver (NYSEAMERICAN:MAG) had its price objective increased by Scotiabank from $13.50 to $14.50 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a sector outperform rating on the stock.

Other analysts have also recently issued research reports about the stock. StockNews.com raised shares of MAG Silver to a sell rating in a report on Wednesday, March 27th. Ventum Cap Mkts lowered shares of MAG Silver from a buy rating to a neutral rating in a research note on Friday, May 3rd. Stifel Nicolaus upped their price objective on shares of MAG Silver from $20.25 to $20.50 and gave the company a buy rating in a research note on Wednesday, May 15th. Finally, HC Wainwright reissued a buy rating and issued a $17.00 price target on shares of MAG Silver in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $18.88.

MAG Silver Stock Performance

MAG opened at $13.35 on Thursday. The firm has a market capitalization of $1.38 billion, a P/E ratio of 23.84 and a beta of 1.10. MAG Silver has a 12-month low of $8.19 and a 12-month high of $14.30.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.04. As a group, equities research analysts anticipate that MAG Silver will post 0.59 EPS for the current fiscal year.

Hedge Funds Weigh In On MAG Silver

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MAG. Banque Cantonale Vaudoise grew its holdings in MAG Silver by 8.6% during the first quarter. Banque Cantonale Vaudoise now owns 11,012 shares of the company’s stock valued at $116,000 after purchasing an additional 876 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of MAG Silver by 6.1% during the fourth quarter. Private Advisor Group LLC now owns 24,986 shares of the company’s stock valued at $260,000 after acquiring an additional 1,447 shares during the period. Perritt Capital Management Inc. bought a new position in shares of MAG Silver during the first quarter valued at $26,000. CIBC Asset Management Inc raised its holdings in shares of MAG Silver by 3.0% in the fourth quarter. CIBC Asset Management Inc now owns 90,881 shares of the company’s stock valued at $949,000 after buying an additional 2,652 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co raised its holdings in shares of MAG Silver by 12.2% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 29,400 shares of the company’s stock valued at $307,000 after buying an additional 3,200 shares during the last quarter. Institutional investors 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.