MAG Silver (TSE:MAG) Price Target Raised to C$22.00

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) had its price objective raised by equities researchers at Canaccord Genuity Group from C$20.00 to C$22.00 in a report released on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s price target would suggest a potential upside of 31.97% from the stock’s current price.

Several other equities research analysts have also recently commented on MAG. Raymond James upped their price target on MAG Silver from C$19.50 to C$20.50 in a research note on Tuesday. National Bankshares cut their price target on MAG Silver from C$21.75 to C$21.50 in a research note on Friday. BMO Capital Markets cut their price target on MAG Silver from C$21.50 to C$21.00 in a research note on Thursday, January 25th. TD Securities cut their price target on MAG Silver from C$20.00 to C$18.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. Finally, Stifel Nicolaus upped their price target on MAG Silver from C$19.50 to C$20.50 in a research note on Friday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$19.83.

MAG Silver Stock Performance

TSE MAG traded up C$0.41 on Tuesday, reaching C$16.67. The stock had a trading volume of 217,034 shares, compared to its average volume of 273,117. The company has a debt-to-equity ratio of 0.03, a quick ratio of 25.31 and a current ratio of 15.04. MAG Silver has a 12-month low of C$11.15 and a 12-month high of C$18.51. The business’s 50-day moving average price is C$13.54 and its 200 day moving average price is C$13.80. The stock has a market cap of C$1.72 billion, a P/E ratio of 25.98, a price-to-earnings-growth ratio of 0.84 and a beta of 1.00.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Tuesday, March 19th. The company reported C$0.19 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.18 by C$0.01. As a group, equities analysts expect that MAG Silver will post 0.5547739 earnings per share for the current year.

Insider Buying and Selling at MAG Silver

In other MAG Silver news, Senior Officer Michael John Curlook sold 18,779 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of C$16.91, for a total value of C$317,552.89. In other MAG Silver news, Director George Nickolas Paspalas sold 11,634 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of C$15.85, for a total value of C$184,398.90. Also, Senior Officer Michael John Curlook sold 18,779 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of C$16.91, for a total value of C$317,552.89. Over the last 90 days, insiders have sold 106,704 shares of company stock valued at $1,752,125. Insiders own 0.47% 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.