MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) received a C$23.50 price target from investment analysts at Raymond James in a note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ price target would suggest a potential upside of 1.47% from the stock’s previous close.
A number of other research firms have also recently issued reports on MAG. Canaccord Genuity reiterated a “speculative buy” rating and issued a C$21.25 target price on shares of MAG Silver in a research report on Tuesday, May 26th. HC Wainwright reiterated a “buy” rating and issued a C$16.50 target price on shares of MAG Silver in a research report on Tuesday, May 26th. Cormark reissued a “top pick” rating and set a C$18.60 price target on shares of MAG Silver in a research note on Tuesday, May 26th. National Bank Financial lifted their price target on MAG Silver from C$28.00 to C$29.00 in a research note on Friday, September 11th. Finally, Pi Financial lifted their price target on MAG Silver from C$25.00 to C$26.50 in a research note on Friday, August 28th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. MAG Silver currently has a consensus rating of “Buy” and an average target price of C$22.26.
Shares of TSE MAG opened at C$23.16 on Tuesday. MAG Silver has a 52 week low of C$5.33 and a 52 week high of C$24.21. The company has a debt-to-equity ratio of 0.19, a quick ratio of 115.18 and a current ratio of 116.52. The stock’s fifty day moving average is C$21.44 and its 200 day moving average is C$17.04. The stock has a market capitalization of $2.18 billion and a P/E ratio of -121.89.
MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last released its earnings results on Wednesday, August 12th. The company reported C$0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C($0.02) by C$0.04. Equities research analysts forecast that MAG Silver will post 0.33 earnings per share for the current year.
In related news, Director Daniel Thomas Macinnis sold 25,000 shares of MAG Silver stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of C$24.00, for a total value of C$600,000.00. Following the transaction, the director now directly owns 217,488 shares of the company’s stock, valued at C$5,219,712. Also, Senior Officer Michael John Curlook sold 10,000 shares of MAG Silver stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of C$20.36, for a total value of C$203,600.00. Following the completion of the transaction, the insider now directly owns 96,743 shares in the company, valued at C$1,969,687.48. Over the last ninety days, insiders sold 199,000 shares of company stock worth $4,168,630.
MAG Silver Company Profile
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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