CIBC Forecasts Strong Price Appreciation for MAG Silver (TSE:MAG) Stock

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) had its price objective upped by research analysts at CIBC from C$24.00 to C$25.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 17.15% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Stifel Nicolaus upped their target price on shares of MAG Silver from C$21.50 to C$25.00 in a research report on Monday, October 21st. Raymond James lifted their target price on MAG Silver from C$23.00 to C$26.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Securities increased their price target on MAG Silver from C$22.00 to C$25.00 in a report on Friday, October 18th. Finally, BMO Capital Markets lifted their price objective on shares of MAG Silver from C$24.00 to C$26.00 in a research note on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$24.71.

MAG Silver Trading Up 3.0 %

Shares of MAG Silver stock opened at C$21.34 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 25.31 and a current ratio of 28.03. The company has a fifty day moving average of C$20.76 and a 200 day moving average of C$18.69. The company has a market capitalization of C$2.20 billion, a P/E ratio of 26.90, a P/E/G ratio of 0.84 and a beta of 1.14. MAG Silver has a fifty-two week low of C$11.15 and a fifty-two week high of C$25.36.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last issued its earnings results on Tuesday, November 12th. The company reported C$0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.28 by C$0.02. On average, sell-side analysts anticipate that MAG Silver will post 1.2235023 earnings per share for the current fiscal year.

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.