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

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) had its price target boosted by analysts at CIBC from C$25.00 to C$26.00 in a note issued to investors on Monday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 16.28% from the company’s current price.

MAG has been the topic of several other research reports. Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Raymond James upped their price target on MAG Silver from C$23.00 to C$26.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Panmure Gordon lifted their price objective on MAG Silver from C$26.40 to C$27.10 in a report on Friday, November 22nd. Stifel Nicolaus upped their target price on MAG Silver from C$25.00 to C$25.50 in a research note on Monday, November 25th. Finally, TD Securities lifted their price target on shares of MAG Silver from C$22.00 to C$25.00 in a research note on Friday, October 18th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, MAG Silver has a consensus rating of “Moderate Buy” and a consensus target price of C$25.20.

MAG Silver Stock Up 3.9 %

MAG stock opened at C$22.36 on Monday. 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 company has a 50-day moving average of C$21.79 and a two-hundred day moving average of C$19.10. The stock has a market capitalization of C$2.31 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14. MAG Silver has a 52-week low of C$11.15 and a 52-week high of C$25.36.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last released its earnings results on Tuesday, November 12th. The company reported C$0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.28 by C$0.02. As a group, equities research analysts anticipate that MAG Silver will post 1.2235023 EPS for the current 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.