MAG Silver Corp (TSE:MAG) Receives C$22.54 Average Target Price from Analysts

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Shares of MAG Silver Corp (TSE:MAG) (NYSEAMERICAN:MAG) have been assigned a consensus rating of “Buy” from the nine brokerages that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is C$22.54.

Several analysts have recently issued reports on the stock. Raymond James increased their price target on shares of MAG Silver from C$23.50 to C$26.00 and gave the stock an “outperform” rating in a research report on Thursday, September 24th. National Bank Financial upped their target price on shares of MAG Silver from C$28.00 to C$29.00 in a research note on Friday, September 11th. TD Securities cut shares of MAG Silver from a “speculative buy” rating to a “hold” rating and raised their price target for the company from C$26.00 to C$27.00 in a research report on Friday, July 24th. Finally, Pi Financial upped their price objective on MAG Silver from C$25.00 to C$26.50 in a research report on Friday, August 28th.

TSE:MAG traded up C$0.11 during trading hours on Monday, reaching C$22.34. 159,631 shares of the stock were exchanged, compared to its average volume of 345,345. MAG Silver has a twelve month low of C$5.33 and a twelve month high of C$24.21. The business has a 50-day moving average of C$21.30 and a two-hundred day moving average of C$17.73. The company has a market capitalization of $2.11 billion and a price-to-earnings ratio of -117.58. The company has a quick ratio of 115.18, a current ratio of 116.52 and a debt-to-equity ratio of 0.19.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last posted its quarterly earnings data on Wednesday, August 12th. The company reported C$0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of C($0.02) by C$0.04. On average, research analysts forecast that MAG Silver will post 0.3704969 EPS for the current fiscal year.

In other news, Senior Officer Michael John Curlook sold 3,600 shares of the firm’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of C$23.93, for a total transaction of C$86,148.00. Following the sale, the insider now owns 96,743 shares of the company’s stock, valued at approximately C$2,315,059.99. Also, Director Daniel Thomas Macinnis sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of C$24.00, for a total value of C$600,000.00. Following the completion of the transaction, the director now directly owns 217,488 shares of the company’s stock, valued at C$5,219,712. Over the last three months, insiders sold 194,900 shares of company stock worth $4,104,628.

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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Analyst Recommendations for MAG Silver (TSE:MAG)

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