MAG Silver (TSE:MAG) Hits New 12-Month High Following Analyst Upgrade
MAG Silver Corp. (TSE:MAG – Get Free Report) (NYSEAMERICAN:MAG) hit a new 52-week high on Thursday after TD Securities raised their price target on the stock from C$20.00 to C$21.00. TD Securities currently has a buy rating on the stock. MAG Silver traded as high as C$18.20 and last traded at C$18.20, with a volume of 133629 shares changing hands. The stock had previously closed at C$17.62.
Other research analysts also recently issued research reports about the company. Canaccord Genuity Group increased their price target on MAG Silver from C$20.00 to C$22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. BMO Capital Markets reduced their target price on shares of MAG Silver from C$21.50 to C$21.00 in a research note on Thursday, January 25th. National Bankshares dropped their price target on shares of MAG Silver from C$21.75 to C$21.50 in a research note on Friday, April 19th. Raymond James lifted their price objective on shares of MAG Silver from C$19.50 to C$20.50 in a research note on Tuesday, April 23rd. Finally, Ventum Cap Mkts downgraded MAG Silver from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, MAG Silver currently has an average rating of “Moderate Buy” and an average target price of C$20.17.
Read Our Latest Report on MAG Silver
Insiders Place Their Bets
In related news, Senior Officer Michael John Curlook sold 18,779 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of C$16.91, for a total transaction of C$317,552.89. In other MAG Silver news, Senior Officer Peter Megaw sold 76,291 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of C$16.39, for a total value of C$1,250,172.99. Also, Senior Officer Michael John Curlook sold 18,779 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of C$16.91, for a total transaction of C$317,552.89. Insiders have sold 106,704 shares of company stock worth $1,752,125 in the last three months. 0.96% of the stock is currently owned by corporate insiders.
MAG Silver Trading Up 3.3 %
The stock has a 50 day moving average of C$15.43 and a 200 day moving average of C$14.11. The company has a debt-to-equity ratio of 0.03, a current ratio of 15.04 and a quick ratio of 25.31. The firm has a market cap of C$1.87 billion, a P/E ratio of 28.52, a PEG ratio of 0.84 and a beta of 1.08.
MAG Silver (TSE:MAG – Get Free Report) (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Tuesday, March 19th. The company reported C$0.19 EPS for the quarter, beating the consensus estimate of C$0.18 by C$0.01. As a group, equities research analysts predict that MAG Silver Corp. will post 0.7517762 EPS for the current year.
About MAG Silver
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.
Recommended Stories
Receive News & Ratings for MAG Silver Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for MAG Silver and related companies with MarketBeat.com’s FREE daily email newsletter.
