Raymond James Boosts MAG Silver (TSE:MAG) Price Target to C$29.00

MAG Silver (TSE:MAGGet Rating) (NYSEAMERICAN:MAG) had its price target hoisted by stock analysts at Raymond James from C$28.00 to C$29.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price would indicate a potential upside of 32.66% from the stock’s current price.

Several other research analysts have also commented on the company. HC Wainwright reissued a “buy” rating and set a C$21.50 price objective on shares of MAG Silver in a report on Monday, April 4th. National Bank Financial reaffirmed a “buy” rating on shares of MAG Silver in a research note on Thursday, December 30th. CIBC decreased their target price on shares of MAG Silver from C$31.00 to C$27.00 and set a “neutral” rating on the stock in a research note on Thursday, December 30th. National Bankshares reduced their price target on MAG Silver from C$32.00 to C$30.00 in a report on Friday, January 7th. Finally, Scotiabank lowered shares of MAG Silver from a “sector outperform” rating to a “sector perform” rating in a report on Friday, January 21st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$26.61.

MAG stock traded up C$0.07 during mid-day trading on Wednesday, reaching C$21.86. 64,112 shares of the company traded hands, compared to its average volume of 251,768. The company has a quick ratio of 42.68, a current ratio of 43.85 and a debt-to-equity ratio of 0.13. The stock has a market cap of C$2.14 billion and a price-to-earnings ratio of 412.45. The firm’s 50 day moving average price is C$21.31 and its 200 day moving average price is C$21.15. MAG Silver has a fifty-two week low of C$16.74 and a fifty-two week high of C$29.28.

MAG Silver (TSE:MAGGet Rating) (NYSEAMERICAN:MAG) last issued its quarterly earnings results on Thursday, March 31st. The company reported C$0.11 EPS for the quarter, beating analysts’ consensus estimates of C($0.01) by C$0.12. On average, analysts anticipate that MAG Silver will post 1.5 EPS for the current fiscal year.

In related news, Senior Officer Larry Taddei sold 14,000 shares of the stock in a transaction that occurred on Wednesday, April 13th. The stock was sold at an average price of C$22.50, for a total transaction of C$315,000.00. Following the completion of the transaction, the insider now directly owns 20,001 shares of the company’s stock, valued at C$450,022.50. Insiders sold 31,500 shares of company stock worth $686,395 in the last three months.

MAG Silver Company Profile (Get Rating)

MAG Silver Corp. engages in the exploration and development of silver mining properties. It also explores for gold, lead, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. The company was incorporated in 2003 and is headquartered in Vancouver, Canada.

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Analyst Recommendations for MAG Silver (TSE:MAG)

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