MAG Silver (TSE:MAG) Reaches New 1-Year High After Analyst Upgrade

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) shares reached a new 52-week high on Tuesday after Stifel Nicolaus raised their price target on the stock from C$21.50 to C$25.00. The stock traded as high as C$24.88 and last traded at C$24.62, with a volume of 107992 shares traded. The stock had previously closed at C$24.23.

Separately, TD Securities raised their target price on shares of MAG Silver from C$22.00 to C$25.00 in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, MAG Silver presently has an average rating of “Moderate Buy” and an average price target of C$21.89.

MAG Silver Stock Performance

The company has a quick ratio of 25.31, a current ratio of 28.03 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of C$18.99 and a 200 day moving average of C$17.91. The stock has a market capitalization of C$2.54 billion, a P/E ratio of 30.67, a PEG ratio of 0.84 and a beta of 1.14.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Thursday, August 1st. The company reported C$0.28 EPS for the quarter, topping analysts’ consensus estimates of C$0.27 by C$0.01. Research analysts anticipate that MAG Silver Corp. will post 1.2235023 EPS for the current fiscal year.

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.