HC Wainwright Forecasts Strong Price Appreciation for MAG Silver (NYSEAMERICAN:MAG) Stock

MAG Silver (NYSEAMERICAN:MAG) had its target price raised by research analysts at HC Wainwright from $20.00 to $21.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 32.91% from the company’s previous close. HC Wainwright also issued estimates for MAG Silver’s FY2025 earnings at $0.82 EPS.

MAG has been the subject of several other reports. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Capital cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, MAG Silver has a consensus rating of “Hold” and a consensus price target of $18.63.

MAG Silver Stock Performance

NYSEAMERICAN:MAG opened at $15.80 on Thursday. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 22.25 and a beta of 1.08. MAG Silver has a 12 month low of $8.19 and a 12 month high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last announced its earnings results on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. Equities research analysts anticipate that MAG Silver will post 0.74 EPS for the current fiscal year.

Institutional Investors Weigh In On MAG Silver

A number of institutional investors have recently made changes to their positions in MAG. Van ECK Associates Corp lifted its holdings in MAG Silver by 4.8% in the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after acquiring an additional 467,817 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of MAG Silver by 199.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after purchasing an additional 254,553 shares during the last quarter. JPMorgan Chase & Co. boosted its position in MAG Silver by 69.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock valued at $6,407,000 after purchasing an additional 186,445 shares during the period. Mackenzie Financial Corp boosted its position in MAG Silver by 310.5% during the 2nd quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock valued at $2,224,000 after purchasing an additional 144,007 shares during the period. Finally, PCJ Investment Counsel Ltd. grew its stake in MAG Silver by 38.1% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock worth $5,196,000 after buying an additional 101,870 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors.

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.