MAG Silver (TSE:MAG) Price Target Raised to C$20.50

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) had its target price increased by Raymond James from C$19.50 to C$20.50 in a report issued on Tuesday morning, BayStreet.CA reports. Raymond James also issued estimates for MAG Silver’s Q1 2024 earnings at $0.19 EPS, Q2 2024 earnings at $0.25 EPS, Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.25 EPS and FY2024 earnings at $0.90 EPS.

A number of other analysts have also recently issued reports on MAG. Stifel Nicolaus raised their target price on shares of MAG Silver from C$19.50 to C$20.50 in a research note on Friday, April 19th. National Bankshares cut their target price on shares of MAG Silver from C$21.75 to C$21.50 in a research note on Friday, April 19th. BMO Capital Markets cut their target price on shares of MAG Silver from C$21.50 to C$21.00 in a research note on Thursday, January 25th. Finally, TD Securities cut their target price on shares of MAG Silver from C$20.00 to C$18.00 and set a buy rating for the company in a research note on Wednesday, March 20th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, MAG Silver currently has an average rating of Moderate Buy and a consensus price target of C$19.81.

MAG Silver Stock Performance

Shares of MAG stock opened at C$17.70 on Tuesday. The stock has a market cap of C$1.82 billion, a P/E ratio of 27.66, a P/E/G ratio of 0.84 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 15.04 and a quick ratio of 25.31. The company has a fifty day moving average price of C$13.87 and a two-hundred day moving average price of C$13.87. MAG Silver has a one year low of C$11.15 and a one year high of C$18.51.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last posted its earnings results on Tuesday, March 19th. The company reported C$0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.18 by C$0.01. As a group, equities analysts predict that MAG Silver will post 0.5547739 EPS for the current year.

Insider Buying and Selling at MAG Silver

In other MAG Silver news, Senior Officer Michael John Curlook sold 18,779 shares of the firm’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, Director George Nickolas Paspalas sold 11,634 shares of MAG Silver stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of C$15.85, for a total transaction of C$184,398.90. Also, Senior Officer Michael John Curlook sold 18,779 shares of MAG Silver stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of C$16.91, for a total transaction of C$317,552.89. Insiders have sold a total of 106,704 shares of company stock valued at $1,752,125 in the last ninety days. 0.47% of the stock is currently owned by company insiders.

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.