Canaccord Genuity Group Boosts MAG Silver (TSE:MAG) Price Target to C$22.00

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) had its price objective lifted by Canaccord Genuity Group from C$20.00 to C$22.00 in a research report released on Tuesday, Marketbeat.com reports. They currently have a buy rating on the stock.

A number of other research firms also recently weighed in on MAG. TD Securities reduced their price target on 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. Raymond James increased their price target on MAG Silver from C$19.50 to C$20.50 in a research note on Tuesday. BMO Capital Markets lowered their price objective on MAG Silver from C$21.50 to C$21.00 in a research report on Thursday, January 25th. National Bankshares reduced their target price on MAG Silver from C$21.75 to C$21.50 in a report on Friday, April 19th. Finally, Stifel Nicolaus raised their price objective on MAG Silver from C$19.50 to C$20.50 in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, MAG Silver has an average rating of Moderate Buy and a consensus target price of C$19.81.

MAG Silver Price Performance

Shares of MAG opened at C$17.74 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 25.31 and a current ratio of 15.04. The stock has a 50 day simple moving average of C$13.98 and a 200 day simple moving average of C$13.89. MAG Silver has a 52-week low of C$11.15 and a 52-week high of C$18.51. The firm has a market capitalization of C$1.83 billion, a PE ratio of 27.72, a P/E/G ratio of 0.84 and a beta of 1.00.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Tuesday, March 19th. The company reported C$0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.18 by C$0.01. Sell-side analysts predict that MAG Silver will post 0.5547739 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director George Nickolas Paspalas sold 11,634 shares of the stock in a transaction dated 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 news, Senior Officer Michael John Curlook sold 18,779 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of C$16.91, for a total value of C$317,552.89. Also, Director George Nickolas Paspalas sold 11,634 shares of MAG Silver 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. Insiders have sold 106,704 shares of company stock worth $1,752,125 in the last ninety days. 0.47% of the stock is currently owned by 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.