MAG Silver (NYSEAMERICAN:MAG) Receives Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of MAG Silver (NYSEAMERICAN:MAG) in a research note released on Tuesday morning,Benzinga reports. They currently have a $21.00 price objective on the stock.

MAG Silver Stock Performance

NYSEAMERICAN MAG opened at $15.41 on Tuesday. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 21.70 and a beta of 1.09. MAG Silver has a 12 month low of $8.19 and a 12 month high of $18.27.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc boosted its holdings in shares of MAG Silver by 0.7% in the 4th quarter. CIBC Asset Management Inc now owns 114,355 shares of the company’s stock valued at $1,550,000 after buying an additional 755 shares during the period. Swiss National Bank lifted its holdings in MAG Silver by 0.6% in the fourth quarter. Swiss National Bank now owns 193,900 shares of the company’s stock worth $2,633,000 after acquiring an additional 1,200 shares during the last quarter. Geode Capital Management LLC boosted its stake in MAG Silver by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 50,088 shares of the company’s stock valued at $687,000 after acquiring an additional 1,245 shares during the period. Capital Performance Advisors LLP bought a new position in shares of MAG Silver during the third quarter valued at approximately $28,000. Finally, Bank of America Corp DE grew its holdings in shares of MAG Silver by 5.1% during the fourth quarter. Bank of America Corp DE now owns 49,779 shares of the company’s stock valued at $677,000 after purchasing an additional 2,399 shares during the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

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.