MAG Silver Corp (MAG) Earns “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of MAG Silver Corp (NYSE:MAG) in a research report released on Wednesday morning. The firm currently has a $18.50 price objective on the industrial goods maker’s stock.

Other analysts also recently issued reports about the company. Zacks Investment Research upgraded MAG Silver Corp from a hold rating to a buy rating and set a $15.00 price objective on the stock in a research report on Wednesday, July 19th. Roth Capital set a $22.00 price objective on MAG Silver Corp and gave the company a buy rating in a research report on Monday, August 21st. One analyst has rated the stock with a sell rating, five have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $16.50.

Shares of MAG Silver Corp (NYSE MAG) traded down $0.53 during trading hours on Wednesday, hitting $10.90. The stock had a trading volume of 425,061 shares, compared to its average volume of 285,026. MAG Silver Corp has a twelve month low of $9.50 and a twelve month high of $16.78.

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Large investors have recently modified their holdings of the company. Van ECK Associates Corp lifted its position in MAG Silver Corp by 4.4% during the third quarter. Van ECK Associates Corp now owns 4,271,770 shares of the industrial goods maker’s stock worth $47,972,000 after buying an additional 181,120 shares during the period. Commonwealth Bank of Australia lifted its position in MAG Silver Corp by 66.3% during the second quarter. Commonwealth Bank of Australia now owns 1,963,800 shares of the industrial goods maker’s stock worth $25,599,000 after buying an additional 783,000 shares during the period. Sprott Inc. lifted its position in MAG Silver Corp by 24.6% during the second quarter. Sprott Inc. now owns 1,233,819 shares of the industrial goods maker’s stock worth $16,089,000 after buying an additional 243,238 shares during the period. Royal Bank of Canada lifted its position in MAG Silver Corp by 7.8% during the second quarter. Royal Bank of Canada now owns 1,078,841 shares of the industrial goods maker’s stock worth $14,068,000 after buying an additional 77,927 shares during the period. Finally, Addenda Capital Inc. lifted its position in MAG Silver Corp by 4.4% during the second quarter. Addenda Capital Inc. now owns 1,051,260 shares of the industrial goods maker’s stock worth $13,704,000 after buying an additional 44,355 shares during the period.

About MAG Silver Corp

MAG Silver Corp. is a mineral exploration and development company. The Company is focused on the acquisition, exploration and development of projects located within the Mexican silver belt. The Company operates through the exploration of mineral properties in Mexico segment. The Company’s projects include Juanicipio Property, Cinco De Mayo Property and Guigui Property.

Analyst Recommendations for MAG Silver Corp (NYSE:MAG)

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