Raymond James Raises MAG Silver (TSE:MAG) Price Target to C$20.50

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) had its price target hoisted by Raymond James from C$19.50 to C$20.50 in a research report sent to investors on Tuesday, 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, Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.25 EPS and FY2024 earnings at $0.90 EPS.

A number of other analysts have also weighed in on MAG. BMO Capital Markets dropped their target price on shares of MAG Silver from C$21.50 to C$21.00 in a report on Thursday, January 25th. National Bankshares lowered their price objective on shares of MAG Silver from C$21.75 to C$21.50 in a report on Friday, April 19th. TD Securities lowered their price objective on shares of MAG Silver from C$20.00 to C$18.00 and set a buy rating for the company in a report on Wednesday, March 20th. Finally, Stifel Nicolaus raised their price objective on shares of MAG Silver from C$19.50 to C$20.50 in a report on Friday, April 19th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of C$19.81.

MAG Silver Stock Performance

MAG Silver stock opened at C$17.74 on Tuesday. The company has a current ratio of 15.04, a quick ratio of 25.31 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of C$13.98 and a 200-day moving average of C$13.89. The firm has a market cap of C$1.83 billion, a P/E ratio of 27.72, a P/E/G ratio of 0.84 and a beta of 1.00. MAG Silver has a 1-year low of C$11.15 and a 1-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 for the quarter, topping analysts’ consensus estimates of C$0.18 by C$0.01. Sell-side analysts expect that MAG Silver will post 0.5547739 EPS for the current year.

Insider Activity at MAG Silver

In other MAG Silver 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 value of C$184,398.90. In other MAG Silver news, Senior Officer Michael John Curlook sold 18,779 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were 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 the business’s 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. Insiders sold 106,704 shares of company stock valued at $1,752,125 over the last 90 days. Corporate insiders own 0.47% of the company’s stock.

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.