Raymond James Raises MAG Silver (TSE:MAG) Price Target to C$26.00

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) had its target price hoisted by Raymond James from C$23.00 to C$26.00 in a report issued on Thursday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Raymond James’ target price indicates a potential upside of 7.35% from the company’s previous close.

A number of other research firms also recently issued reports on MAG. TD Securities upped their target price on shares of MAG Silver from C$22.00 to C$25.00 in a research report on Friday, October 18th. Stifel Nicolaus boosted their price target on shares of MAG Silver from C$21.50 to C$25.00 in a research note on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$23.06.

MAG Silver Stock Performance

Shares of MAG Silver stock opened at C$24.22 on Thursday. The firm has a 50 day simple moving average of C$19.46 and a 200 day simple moving average of C$18.07. MAG Silver has a fifty-two week low of C$11.15 and a fifty-two week high of C$24.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 28.03 and a quick ratio of 25.31. The firm has a market cap of C$2.50 billion, a P/E ratio of 30.66, a P/E/G ratio of 0.84 and a beta of 1.14.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last released its earnings results on Thursday, August 1st. The company reported C$0.28 EPS for the quarter, beating the consensus estimate of C$0.27 by C$0.01. Sell-side analysts predict 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.