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

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) had its price target upped by equities researchers at Canaccord Genuity Group from C$20.00 to C$22.00 in a research note issued on Tuesday, BayStreet.CA reports. Canaccord Genuity Group’s target price points to a potential upside of 31.97% from the company’s previous close.

Several other analysts have also issued reports on MAG. National Bankshares cut their target price on shares of MAG Silver from C$21.75 to C$21.50 in a research report on Friday. TD Securities dropped their price target on shares of MAG Silver from C$20.00 to C$18.00 and set a “buy” rating for the company in a research report on Wednesday, March 20th. Raymond James upped their price target on shares of MAG Silver from C$19.50 to C$20.50 in a research report on Tuesday. BMO Capital Markets dropped their price target on shares of MAG Silver from C$21.50 to C$21.00 in a research report on Thursday, January 25th. Finally, Stifel Nicolaus upped their price target on shares of MAG Silver from C$19.50 to C$20.50 in a research report on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to 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 during trading hours on Tuesday, hitting C$16.67. 217,034 shares of the company’s stock traded hands, compared to its average volume of 273,117. The business’s fifty day moving average price is C$13.54 and its two-hundred day moving average price is C$13.80. The company has a current ratio of 15.04, a quick ratio of 25.31 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of C$1.72 billion, a P/E ratio of 25.98, a P/E/G ratio of 0.84 and a beta of 1.00. MAG Silver has a 52 week low of C$11.15 and a 52 week high of C$18.51.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last announced its earnings results on Tuesday, March 19th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.18 by C$0.01. Equities research analysts predict that MAG Silver will post 0.5547739 EPS for the current year.

Insider Activity

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

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.