MAG Silver Corp. (TSE:MAG) Receives Average Recommendation of “Buy” from Analysts

Shares of MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) have earned an average recommendation of “Buy” from the nine research firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is C$28.44.

Several equities research analysts recently commented on MAG shares. National Bank Financial boosted their target price on MAG Silver from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a report on Friday, September 10th. HC Wainwright reaffirmed a “buy” rating and issued a C$22.50 price target on shares of MAG Silver in a report on Wednesday, September 8th. National Bankshares upped their price target on MAG Silver from C$31.00 to C$32.00 and gave the company an “outperform” rating in a report on Friday, September 10th. Raymond James reaffirmed an “outperform” rating and issued a C$28.00 price target on shares of MAG Silver in a report on Friday, August 6th. Finally, CIBC reaffirmed a “neutral” rating and issued a C$33.00 price target on shares of MAG Silver in a report on Monday, August 16th.

In related news, Senior Officer Larry Taddei sold 10,784 shares of MAG Silver stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of C$24.18, for a total value of C$260,757.12. Following the completion of the sale, the insider now owns 50,854 shares of the company’s stock, valued at approximately C$1,229,649.72.

TSE:MAG traded down C$0.63 during midday trading on Monday, hitting C$21.47. 345,153 shares of the stock were exchanged, compared to its average volume of 229,461. MAG Silver has a one year low of C$17.88 and a one year high of C$31.21. The company has a market capitalization of C$2.04 billion and a price-to-earnings ratio of 287.01. The business has a 50-day moving average price of C$23.76 and a two-hundred day moving average price of C$23.58. The company has a current ratio of 95.70, a quick ratio of 94.13 and a debt-to-equity ratio of 0.14.

About MAG Silver

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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