MAG Silver (NYSEAMERICAN:MAG) has been assigned a $17.00 price target by stock analysts at HC Wainwright in a research note issued to investors on Tuesday, TipRanks reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 80.08% from the stock’s previous close.
Several other research analysts also recently commented on MAG. Zacks Investment Research raised MAG Silver from a “sell” rating to a “hold” rating in a research note on Tuesday. Macquarie reaffirmed a “buy” rating on shares of MAG Silver in a research note on Friday, April 5th. Roth Capital reaffirmed a “buy” rating on shares of MAG Silver in a research note on Wednesday, March 6th. Finally, Raymond James reaffirmed an “average” rating and issued a $19.00 price objective on shares of MAG Silver in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $15.67.
MAG stock opened at $9.44 on Tuesday. MAG Silver has a fifty-two week low of $6.12 and a fifty-two week high of $12.00.
MAG Silver (NYSEAMERICAN:MAG) last posted its earnings results on Monday, April 1st. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03).
Large investors have recently added to or reduced their stakes in the stock. FIL Ltd purchased a new stake in shares of MAG Silver during the first quarter worth about $32,000. Raymond James & Associates purchased a new stake in shares of MAG Silver during the fourth quarter worth about $211,000. Signition LP grew its position in shares of MAG Silver by 173.9% during the fourth quarter. Signition LP now owns 36,700 shares of the company’s stock worth $268,000 after purchasing an additional 23,300 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of MAG Silver during the fourth quarter worth about $306,000. Finally, Global Strategic Management Inc. purchased a new stake in shares of MAG Silver during the fourth quarter worth about $369,000.
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.
Further Reading: Overbought
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