MAG Silver (TSE:MAG) Price Target Increased to C$22.00 by Analysts at Canaccord Genuity Group

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) had its price target raised by Canaccord Genuity Group from C$20.00 to C$22.00 in a research note released on Tuesday morning, MarketBeat reports. The firm currently has a buy rating on the stock.

Several other brokerages have also issued reports on MAG. Stifel Nicolaus raised their price target on shares of MAG Silver from C$19.50 to C$20.50 in a research note on Friday, April 19th. Raymond James lifted their price objective on shares of MAG Silver from C$19.50 to C$20.50 in a report on Tuesday. TD Securities cut 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. BMO Capital Markets lowered their price objective on shares of MAG Silver from C$21.50 to C$21.00 in a research note on Thursday, January 25th. Finally, National Bankshares lowered their price objective on shares of MAG Silver from C$21.75 to C$21.50 in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of C$19.81.

MAG Silver Stock Performance

TSE MAG opened at C$17.74 on Tuesday. The company has a market capitalization of C$1.83 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 0.84 and a beta of 1.00. MAG Silver has a twelve month low of C$11.15 and a twelve month high of C$18.51. The stock has a fifty day simple moving average of C$13.98 and a 200 day simple moving average of C$13.89. 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 (TSE:MAG) (NYSEAMERICAN:MAG) last issued its quarterly earnings results on Tuesday, March 19th. The company reported C$0.19 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.18 by C$0.01. Sell-side analysts expect that MAG Silver will post 0.5547739 EPS for the current year.

Insider Buying and Selling

In other news, Senior Officer Michael John Curlook sold 18,779 shares of the business’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. In related news, Senior Officer Peter Megaw sold 76,291 shares of the stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of C$16.39, for a total transaction of C$1,250,172.99. Also, Senior Officer Michael John Curlook sold 18,779 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of C$16.91, for a total transaction of C$317,552.89. In the last ninety days, insiders sold 106,704 shares of company stock valued at $1,752,125. Company insiders own 0.47% of the company’s stock.

MAG Silver Company Profile

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.