MAG Silver (TSE:MAG) price cut to CAD$28.00 at TD Securities
MAG Silver (TSE:MAG – Rating received) (NYSEAMERICAN:MAG) Analysts at TD Securities lowered its price target to $28.00 from $31.00 in a research note released Wednesday, reports BayStreet.CA. The company currently has a speculative buy rating on the stock. TD Securities’ price target would suggest a potential upside of 66.07% from the stock’s current price.
MAG has been the subject of a number of other research reports. Scotiabank downgraded MAG Silver from a sector outperform rating to a sector perform rating in a research note on Friday, January 21st. HC Wainwright reissued a “buy” rating and price target of CAD$21.50 on shares of MAG Silver in a research note on Wednesday. BMO Capital Markets lowered its price target on MAG Silver from C$23.50 to C$20.50 in a research note on Friday, January 28th. Stifel Nicolaus lowered his price target on MAG Silver from C$30.50 to C$30.00 in a research note on Wednesday, April 27th. Finally, on Wednesday, April 20th, National Bankshares lowered its price target on MAG Silver from $30.00 to $28.25 in a research note. Three investment analysts have rated the stock with a hold rating and five have rated the company’s stock with a buy. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $27.03 CAD.
TSE MAG traded down C$0.60 on Wednesday to hit C$16.86. 59,360 shares of the Company were exchanged compared to an average volume of 255,459. The company’s 50-day moving average price is $20.21 and its 200-day moving average price is $20.66. The stock has a market cap of CA$1.65 billion and a P/E of 216.54. The company has a current ratio of 36.88, a quick ratio of 36.55 and a debt to equity ratio of 0.11. MAG Silver has a 52-week low of $15.75 and a 52-week high of $29.28.
MAG Silver (TSE:MAG – Get Rating) (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Thursday, March 31st. The company reported earnings per share of C$0.11 for the quarter, beating analyst consensus estimates of C$0.01 (C$0.01) by C$0.12. Equity analysts are forecasting that MAG Silver will report earnings per share of 1.5599999 for the current year.
In related news, Senior Officer Larry Taddei sold 14,000 shares of the company’s stock in a transaction on Wednesday, April 13. The stock sold at an average price of $22.50 for a total value of $315,000.00. Following the sale, the insider now owns 20,001 shares of the company, valued at approximately $450,022.50. Insiders sold a total of 31,500 shares of the company’s shares worth $686,395 last quarter.
About MAG Silver (get rating)
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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