MAG Silver Corp (TSE:MAG) (NYSEAMERICAN:MAG) has earned an average recommendation of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is C$19.48.
Several research analysts recently commented on the stock. BMO Capital Markets increased their target price on shares of MAG Silver from C$17.00 to C$18.00 and gave the stock an “outperform” rating in a report on Tuesday, May 26th. TD Securities increased their target price on shares of MAG Silver from C$19.50 to C$22.00 and gave the stock a “speculative buy” rating in a report on Tuesday, April 28th. Scotiabank set a C$20.00 price target on shares of MAG Silver and gave the company an “outperform” rating in a research note on Tuesday, May 26th. National Bank Financial cut their price target 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. Finally, HC Wainwright reiterated a “buy” rating and issued a C$16.50 price target on shares of MAG Silver in a research note on Tuesday, May 26th.
MAG traded down C$1.27 during trading hours on Tuesday, hitting C$17.18. 398,558 shares of the company’s stock were exchanged, compared to its average volume of 405,148. MAG Silver has a 1-year low of C$5.33 and a 1-year high of C$19.14. The stock’s 50-day moving average is C$15.57 and its two-hundred day moving average is C$13.89. The stock has a market cap of $1.48 billion and a price-to-earnings ratio of -78.45. The company has a quick ratio of 103.87, a current ratio of 104.90 and a debt-to-equity ratio of 0.24.
In other news, Senior Officer Michael John Curlook sold 15,000 shares of the stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of C$17.50, for a total value of C$262,500.00. Following the transaction, the insider now directly owns 96,743 shares of the company’s stock, valued at C$1,693,002.50. Also, Director Richard Peter Clark sold 40,000 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of C$18.60, for a total transaction of C$744,000.00. Following the completion of the transaction, the director now directly owns 38,513 shares in the company, valued at C$716,341.80. Insiders sold 92,500 shares of company stock worth $1,646,250 over the last three months.
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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