MAG Silver Corp (MAG) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of MAG Silver Corp (NYSEAMERICAN:MAG) from a hold rating to a buy rating in a research report released on Friday, October 27th. Zacks Investment Research currently has $12.00 price target on the stock.

According to Zacks, “MAG is focused on district scale projects located within the Mexican Silver Belt. Our mission is to become one of the premier companies in the Silver Mining Industry. MAG and its partner, Industrias Penoles, are delineating a significant new silver vein discovery on the Juanicipio Joint Venture in Zacatecas State, Mexico. MAG is based in Vancouver, British Columbia, Canada. “

Separately, Roth Capital set a $22.00 price objective on MAG Silver Corp and gave the stock a buy rating in a research report on Monday, August 21st. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $16.50.

MAG Silver Corp (NYSEAMERICAN:MAG) opened at $10.78 on Friday. MAG Silver Corp has a twelve month low of $9.50 and a twelve month high of $16.78.

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Several hedge funds and other institutional investors have recently made changes to their positions in MAG. Van ECK Associates Corp lifted its stake in MAG Silver Corp by 4.4% in the third quarter. Van ECK Associates Corp now owns 4,271,770 shares of the company’s stock valued at $47,972,000 after purchasing an additional 181,120 shares during the last quarter. Commonwealth Bank of Australia lifted its stake in MAG Silver Corp by 13.4% in the third quarter. Commonwealth Bank of Australia now owns 2,226,940 shares of the company’s stock valued at $24,952,000 after purchasing an additional 263,140 shares during the last quarter. Sprott Inc. lifted its stake in MAG Silver Corp by 24.6% in the second quarter. Sprott Inc. now owns 1,233,819 shares of the company’s stock valued at $16,089,000 after purchasing an additional 243,238 shares during the last quarter. Royal Bank of Canada lifted its stake in MAG Silver Corp by 7.8% in the second quarter. Royal Bank of Canada now owns 1,078,841 shares of the company’s stock valued at $14,068,000 after purchasing an additional 77,927 shares during the last quarter. Finally, Addenda Capital Inc. lifted its stake in MAG Silver Corp by 4.4% in the second quarter. Addenda Capital Inc. now owns 1,051,260 shares of the company’s stock valued at $13,704,000 after purchasing an additional 44,355 shares during the last quarter.

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.

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Analyst Recommendations for MAG Silver Corp (NYSEAMERICAN:MAG)

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