MAG Silver Corp (TSE:MAG) Receives Average Recommendation of “Buy” from Brokerages

MAG Silver Corp (TSE:MAG) (NYSEAMERICAN:MAG) has been given an average recommendation of “Buy” by the eight ratings firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is C$19.31.

A number of research firms recently weighed in on MAG. BMO Capital Markets reaffirmed an “outperform” rating and set a C$17.50 price target on shares of MAG Silver in a research note on Tuesday, November 19th. We view the JV approval of Juanicipio as positive. In our view, the approval will likely not surprise many given the large amount of underground development that has already taken place, but it should remove any doubt that may have still been in the market. The slightly higher capex figure versus the 2017 PEA is in line with our prior assumptions and well telegraphed by MAG. Average annual production of 11.7Moz silver was a bit light versus our prior estimates but is still robust. National Bank Financial upped their price target on MAG Silver from C$20.00 to C$20.50 and gave the stock an “outperform” rating in a research note on Thursday, September 5th.

Shares of MAG Silver stock opened at C$14.48 on Friday. MAG Silver has a one year low of C$9.02 and a one year high of C$18.60. The company has a debt-to-equity ratio of 0.26, a current ratio of 218.65 and a quick ratio of 217.37. The stock’s 50-day moving average is C$13.34 and its 200 day moving average is C$14.36. The firm has a market cap of $1.25 billion and a price-to-earnings ratio of -164.55.

In other news, Director Richard Peter Clark purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were acquired at an average cost of C$12.41 per share, with a total value of C$124,100.00. Following the purchase, the director now owns 78,513 shares in the company, valued at C$974,346.33.

About MAG Silver

MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Canada. It explores for copper, gold, silver, lead, and zinc deposits. The company primarily holds interests in the Juanicipio property covering 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.

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Analyst Recommendations for MAG Silver (TSE:MAG)

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