Raymond James Raises MAG Silver (TSE:MAG) Price Target to C$20.50

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) had its price target increased by research analysts at Raymond James from C$19.50 to C$20.50 in a research report issued on Tuesday, BayStreet.CA reports. Raymond James’ price target would suggest a potential upside of 22.98% from the company’s previous close.

A number of other brokerages have also weighed in on MAG. Stifel Nicolaus boosted their price target on MAG Silver from C$19.50 to C$20.50 in a research note on Friday. BMO Capital Markets decreased their target price on MAG Silver from C$21.50 to C$21.00 in a report on Thursday, January 25th. National Bankshares decreased their price target on MAG Silver from C$21.75 to C$21.50 in a report on Friday. Finally, TD Securities decreased their price target on MAG Silver from C$20.00 to C$18.00 and set a “buy” rating for the company in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, MAG Silver presently has a consensus rating of “Moderate Buy” and an average target price of C$19.83.

MAG Silver Trading Up 2.5 %

TSE MAG traded up C$0.41 during trading hours on Tuesday, hitting C$16.67. 217,034 shares of the company were exchanged, compared to its average volume of 273,117. The stock has a 50-day moving average price of C$13.54 and a 200 day moving average price of C$13.80. The company has a quick ratio of 25.31, a current ratio of 15.04 and a debt-to-equity ratio of 0.03. MAG Silver has a 52 week low of C$11.15 and a 52 week high of C$18.51. The stock has a market cap of C$1.72 billion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 0.84 and a beta of 1.00.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last released its earnings results on Tuesday, March 19th. The company reported C$0.19 earnings per share for the quarter, topping the consensus estimate of C$0.18 by C$0.01. Analysts forecast that MAG Silver will post 0.5547739 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director George Nickolas Paspalas sold 11,634 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of C$15.85, for a total transaction of C$184,398.90. In other MAG Silver news, Director George Nickolas Paspalas sold 11,634 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of C$15.85, for a total value of C$184,398.90. Also, Senior Officer Peter Megaw sold 76,291 shares of the company’s stock in a transaction 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. Over the last ninety days, insiders sold 106,704 shares of company stock worth $1,752,125. 0.47% of the stock is owned by corporate 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.