Brokerages Set MAG Silver Corp (TSE:MAG) Price Target at C$19.48

MAG Silver Corp (TSE:MAG) (NYSEAMERICAN:MAG) has received a consensus rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$19.48.

A number of brokerages recently weighed in on MAG. Canaccord Genuity reiterated a “speculative buy” rating and set a C$21.25 price target on shares of MAG Silver in a research note on Tuesday, May 26th. National Bank Financial decreased their target price on shares of MAG Silver from C$21.00 to C$20.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. TD Securities boosted their price target on MAG Silver from C$19.50 to C$22.00 and gave the company a “speculative buy” rating in a research report on Tuesday, April 28th. HC Wainwright reaffirmed a “buy” rating and set a C$16.50 price objective on shares of MAG Silver in a research report on Tuesday, May 26th. Finally, Cormark reiterated a “top pick” rating and issued a C$18.60 target price on shares of MAG Silver in a research note on Tuesday, May 26th.

In other news, Senior Officer Peter Megaw sold 37,500 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of C$17.06, for a total value of C$639,750.00. Following the sale, the insider now directly owns 10,350 shares in the company, valued at C$176,571. Also, Director Richard Peter Clark sold 40,000 shares of MAG Silver stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of C$18.60, for a total value of C$744,000.00. Following the transaction, the director now owns 38,513 shares of the company’s stock, valued at C$716,341.80. Over the last quarter, insiders have sold 92,500 shares of company stock worth $1,646,250.

MAG Silver stock traded up C$0.12 during mid-day trading on Friday, hitting C$18.09. The company had a trading volume of 263,900 shares, compared to its average volume of 389,513. The company has a quick ratio of 103.87, a current ratio of 104.90 and a debt-to-equity ratio of 0.24. MAG Silver has a 1 year low of C$5.33 and a 1 year high of C$19.14. The business has a fifty day moving average of C$16.96 and a 200 day moving average of C$14.30. The stock has a market cap of $1.63 billion and a price-to-earnings ratio of -82.60.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Friday, May 15th. The company reported C($0.23) earnings per share for the quarter. Equities analysts anticipate that MAG Silver will post 0.39 earnings per share for the current year.

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.

Read More: Quick Ratio

Analyst Recommendations for MAG Silver (TSE:MAG)

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.