Analysts Set MAG Silver Corp (MAG) Target Price at $20.50
Shares of MAG Silver Corp (NYSEAMERICAN:MAG) have been given a consensus rating of “Buy” by the six brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $20.50.
A number of analysts have recently issued reports on the company. HC Wainwright set a $19.00 price objective on MAG Silver and gave the company a “buy” rating in a research report on Wednesday. Zacks Investment Research upgraded MAG Silver from a “sell” rating to a “hold” rating and set a $13.00 price target on the stock in a research report on Saturday, May 19th.
Shares of MAG traded up $0.22 on Tuesday, reaching $8.05. 11,210 shares of the stock traded hands, compared to its average volume of 240,943. MAG Silver has a 12 month low of $7.80 and a 12 month high of $13.29.
Large investors have recently made changes to their positions in the business. PCJ Investment Counsel Ltd. grew its holdings in shares of MAG Silver by 16.5% during the second quarter. PCJ Investment Counsel Ltd. now owns 71,140 shares of the company’s stock worth $768,000 after purchasing an additional 10,100 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of MAG Silver by 2.1% during the first quarter. Great West Life Assurance Co. Can now owns 448,513 shares of the company’s stock worth $4,388,000 after purchasing an additional 9,227 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of MAG Silver by 3.6% during the first quarter. Oppenheimer & Co. Inc. now owns 239,568 shares of the company’s stock worth $2,336,000 after purchasing an additional 8,398 shares during the last quarter. Sentry Investments Corp. grew its holdings in shares of MAG Silver by 25.0% during the first quarter. Sentry Investments Corp. now owns 25,000 shares of the company’s stock worth $316,000 after purchasing an additional 5,000 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of MAG Silver by 724.5% during the first quarter. CIBC Asset Management Inc now owns 237,412 shares of the company’s stock worth $2,322,000 after purchasing an additional 208,616 shares during the last quarter.
About MAG Silver
MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Canada. It explores for copper, gold, silver, lead, and zinc deposits. The company primarily holds interests in the Juanicipio property covering 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.
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