CIBC Forecasts Strong Price Appreciation for MAG Silver (TSE:MAG) Stock

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) had its price target upped by investment analysts at CIBC from C$24.00 to C$25.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s target price suggests a potential upside of 19.90% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. Raymond James upped their price target on shares of MAG Silver from C$23.00 to C$26.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their target price on shares of MAG Silver from C$21.50 to C$25.00 in a research report on Monday, October 21st. TD Securities lifted their price target on shares of MAG Silver from C$22.00 to C$25.00 in a research report on Friday, October 18th. BMO Capital Markets boosted their price target on MAG Silver from C$24.00 to C$26.00 in a research note on Friday, October 25th. Finally, Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$24.13.

MAG Silver Stock Performance

MAG traded down C$0.40 during trading on Wednesday, reaching C$20.85. The company’s stock had a trading volume of 79,322 shares, compared to its average volume of 225,127. The company has a debt-to-equity ratio of 0.01, a quick ratio of 25.31 and a current ratio of 28.03. The company’s fifty day moving average price is C$20.63 and its 200-day moving average price is C$18.63. MAG Silver has a 52-week low of C$11.15 and a 52-week high of C$25.36. The company has a market capitalization of C$2.15 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$0.30 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.28 by C$0.02. On average, equities analysts forecast that MAG Silver will post 1.2235023 earnings per share 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.