MAG Silver (TSE:MAG) Given New C$20.50 Price Target at Raymond James

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

MAG has been the subject of several other reports. 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. TD Securities cut 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. BMO Capital Markets cut their price objective on shares of MAG Silver from C$21.50 to C$21.00 in a report on Thursday, January 25th. Finally, National Bankshares cut their price objective on shares of MAG Silver from C$21.75 to C$21.50 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. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of C$19.81.

MAG Silver Trading Up 6.9 %

Shares of MAG stock opened at C$17.70 on Tuesday. The company has a 50 day moving average of C$13.87 and a 200-day moving average of C$13.87. The company has a quick ratio of 25.31, a current ratio of 15.04 and a debt-to-equity ratio of 0.03. MAG Silver has a 12-month low of C$11.15 and a 12-month high of C$18.51. The firm has a market cap of C$1.82 billion, a P/E ratio of 27.66, a PEG ratio of 0.84 and a beta of 1.00.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last issued its quarterly earnings results on Tuesday, March 19th. The company reported C$0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.18 by C$0.01. Sell-side analysts anticipate that MAG Silver will post 0.5547739 earnings per share for the current year.

Insider Buying and Selling at MAG Silver

In other news, Senior Officer Peter Megaw sold 76,291 shares of MAG Silver stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of C$16.39, for a total transaction of C$1,250,172.99. In other news, Senior Officer Peter Megaw sold 76,291 shares of MAG Silver stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of C$16.39, for a total transaction of C$1,250,172.99. Also, Director George Nickolas Paspalas sold 11,634 shares of MAG Silver stock in a transaction on 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 a total of 106,704 shares of company stock valued at $1,752,125 in the last three months. Company 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.