MAG Silver Corp. stock price (TSE:MAG – Get Rating) (NYSEAMERICAN:MAG) surged 7.3% during Thursday afternoon trade. The company traded as low as C$17.28 and last traded at C$17.19. During the session, 89,687 shares were traded, down 60% from the average session volume of 225,593 shares. The stock had previously closed at CAD$16.02.
Wall Street analysts forecast growth
A number of research companies have recently published reports on MAG. HC Wainwright reiterated a “buy” rating and price target of CAD$16.50 on shares of MAG Silver in a report on Thursday. Stifel Nicolaus lowered his price target on MAG Silver from C$30.50 to C$30.00 in a report on Wednesday, April 27th. Raymond James cut its target price on MAG Silver to $26.00 from $29.00 and gave the stock a “Outperform” rating in a report on Tuesday, July 10th. National Bankshares lowered its target price on MAG Silver to $23.50 from $28.25 and gave the stock a “Outperform” rating in a report on Thursday, July 21. Finally, TD Securities lowered its price target on MAG Silver to $28.00 from $31.00 and rated the stock a “speculative buy” in a research note on Wednesday, May 18. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, MAG Silver currently has an average rating of “Moderate Buy” and an average target price of $25.44.
MAG Silver value for money
The company has a debt to equity ratio of 0.10, a quick ratio of 13.25 and a current ratio of 13.94. The stock has a 50-day moving average of $16.55 and a two-hundred-day moving average of $18.80. The stock has a market cap of CA$1.76 billion and a P/E of 99.17.
MAG Silver (TSE:MAG – Get Rating) (NYSEAMERICAN:MAG) last announced its earnings results on Monday, May 16th. The company reported earnings per share of C$0.04 for the quarter, beating the consensus estimate of C$0.12 from C($0.08). Equity analysts assume that MAG Silver Corp. will post 1.4400001 EPS for the current year.
About MAG Silver
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MAG Silver Corp. is engaged in the exploration and development of precious metals mining properties. The company is prospecting for silver, gold, lead and zinc deposits. It primarily holds a 44% interest in the Juanicipio Project in the Fresnillo District of Zacatecas State, Mexico. The company is headquartered in Vancouver, Canada.
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