HC Wainwright Boosts MAG Silver (NYSEAMERICAN:MAG) Price Target to $22.00

MAG Silver (NYSEAMERICAN:MAG) had its price target raised by HC Wainwright from $21.00 to $22.00 in a report released on Tuesday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Separately, TD Securities upgraded shares of MAG Silver to a “strong-buy” rating in a report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.50.

MAG Silver Price Performance

MAG stock opened at $16.48 on Tuesday. The business’s 50 day simple moving average is $15.58. MAG Silver has a one year low of $8.97 and a one year high of $18.27. The stock has a market capitalization of $1.70 billion, a P/E ratio of 23.21 and a beta of 1.09.

MAG Silver Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, April 4th will be given a $0.18 dividend. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, April 4th.

Institutional Trading of MAG Silver

A number of hedge funds have recently made changes to their positions in MAG. Barclays PLC raised its holdings in MAG Silver by 211.5% in the third quarter. Barclays PLC now owns 30,780 shares of the company’s stock worth $432,000 after buying an additional 20,899 shares during the last quarter. Intact Investment Management Inc. increased its holdings in shares of MAG Silver by 21.3% in the 4th quarter. Intact Investment Management Inc. now owns 307,433 shares of the company’s stock worth $4,176,000 after purchasing an additional 54,033 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of MAG Silver in the fourth quarter worth $240,000. JPMorgan Chase & Co. lifted its holdings in shares of MAG Silver by 69.1% during the third 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of MAG Silver by 56.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 278,000 shares of the company’s stock valued at $3,781,000 after buying an additional 100,500 shares during the last quarter. 52.50% of the stock is 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.