Raymond James Financial Inc. Raises MAG Silver Corp (MAG) Price Target to C$23.75
MAG Silver Corp (TSE:MAG) had its target price increased by investment analysts at Raymond James Financial Inc. from C$22.50 to C$23.75 in a research report issued to clients and investors on Friday. Raymond James Financial Inc.’s price target would indicate a potential upside of 8.30% from the stock’s current price.
Several other equities analysts have also recently weighed in on MAG. TD Securities reaffirmed a “hold” rating and set a C$21.00 target price on shares of MAG Silver Corp in a research note on Thursday. BMO Capital Markets reissued a “market perform” rating and issued a C$25.00 price objective on shares of MAG Silver Corp in a research note on Tuesday, August 16th. Desjardins lifted their price objective on shares of MAG Silver Corp from C$14.00 to C$17.00 and gave the stock a “hold” rating in a research note on Wednesday, June 22nd. National Bank Financial lifted their price objective on shares of MAG Silver Corp from C$19.00 to C$22.00 in a research note on Wednesday, July 13th. Finally, Canaccord Genuity assumed coverage on shares of MAG Silver Corp in a research note on Thursday, June 16th. They issued a “speculative buy” rating and a C$20.50 price objective for the company. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of C$21.11.
MAG Silver Corp (TSE:MAG) traded down 3.37% during mid-day trading on Friday, reaching $21.19. 84,464 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $21.10 and a 200-day moving average price of $17.22. The stock’s market capitalization is $1.70 billion. MAG Silver Corp has a 12-month low of $8.67 and a 12-month high of $23.32.
In other news, Director Daniel Thomas Macinnis sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of C$9.15, for a total value of C$228,750.00.
About MAG Silver Corp
MAG Silver Corp. is a mineral exploration and development company. The Company is focused on the acquisition, exploration and development of projects located within the Mexican silver belt. The Company operates through the exploration of mineral properties in Mexico segment. The Company’s projects include Juanicipio Property, Cinco De Mayo Property and Guigui Property.
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