TD Securities Upgrades MAG Silver (NYSEAMERICAN:MAG) to Strong-Buy

MAG Silver (NYSEAMERICAN:MAG) was upgraded by analysts at TD Securities to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, HC Wainwright reiterated a “buy” rating and set a $21.00 price target on shares of MAG Silver in a research report on Tuesday, February 25th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.63.

MAG Silver Trading Up 7.3 %

Shares of NYSEAMERICAN MAG opened at $15.22 on Monday. The company has a market cap of $1.57 billion, a P/E ratio of 21.44 and a beta of 1.09. MAG Silver has a 12-month low of $8.94 and a 12-month high of $18.27. The business has a 50 day moving average of $15.12.

Hedge Funds Weigh In On MAG Silver

A number of large investors have recently made changes to their positions in MAG. Quantbot Technologies LP acquired a new position in MAG Silver in the third quarter worth approximately $52,000. Pekin Hardy Strauss Inc. acquired a new position in MAG Silver in the third quarter worth approximately $140,000. DF Dent & Co. Inc. acquired a new position in MAG Silver in the third quarter worth approximately $140,000. D. E. Shaw & Co. Inc. acquired a new position in MAG Silver in the fourth quarter worth approximately $156,000. Finally, Aigen Investment Management LP acquired a new position in MAG Silver in the fourth quarter worth approximately $156,000. Institutional investors and hedge funds 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.