MAG Silver (TSE:MAG) PT Raised to C$28.00

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) had its target price raised by equities research analysts at Raymond James from C$27.00 to C$28.00 in a research report issued on Wednesday, Price Targets.com reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price suggests a potential downside of 2.13% from the company’s current price.

A number of other equities research analysts have also commented on MAG. National Bank Financial reduced their price objective on shares of MAG Silver to C$26.25 and set an “outperform” rating on the stock in a research note on Thursday, May 20th. National Bankshares reduced their price objective on shares of MAG Silver from C$27.00 to C$26.25 and set an “outperform” rating on the stock in a research note on Thursday, May 20th. Finally, CIBC upped their price objective on shares of MAG Silver from C$27.00 to C$29.00 and gave the company a “neutral” rating in a research note on Wednesday, May 19th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of C$27.25.

Shares of MAG Silver stock opened at C$28.61 on Wednesday. The company has a market cap of C$2.71 billion and a price-to-earnings ratio of 529.81. The company has a quick ratio of 105.39, a current ratio of 107.30 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average is C$23.49. MAG Silver has a 1 year low of C$15.34 and a 1 year high of C$31.21.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last posted its earnings results on Monday, May 17th. The company reported C($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of C$0.01 by C($0.06). As a group, equities research analysts predict that MAG Silver will post 1.2300001 EPS for the current year.

In other MAG Silver news, Senior Officer Larry Taddei sold 7,059 shares of the company’s stock in a transaction on Friday, May 28th. The shares were sold at an average price of C$25.66, for a total transaction of C$181,133.94. Following the transaction, the insider now owns 50,854 shares in the company, valued at C$1,304,913.64. Also, Director George Nickolas Paspalas sold 22,000 shares of the company’s stock in a transaction on Tuesday, June 1st. The stock was sold at an average price of C$26.72, for a total transaction of C$587,840.00. Following the transaction, the director now owns 168,249 shares in the company, valued at approximately C$4,495,613.28.

MAG Silver Company Profile

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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