CIBC Issues Positive Forecast for MAG Silver (TSE:MAG) Stock Price

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) had its price target upped by CIBC from C$24.00 to C$25.00 in a research note released on Wednesday morning,BayStreet.CA reports.

A number of other research analysts also recently weighed in on MAG. Raymond James raised their price objective on MAG Silver from C$23.00 to C$26.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Stifel Nicolaus raised their price objective on MAG Silver from C$21.50 to C$25.00 in a research note on Monday, October 21st. TD Securities lifted their price target on MAG Silver from C$22.00 to C$25.00 in a research report on Friday, October 18th. BMO Capital Markets lifted their price target on MAG Silver from C$24.00 to C$26.00 in a research report on Friday, October 25th. Finally, Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research report 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 data from MarketBeat, MAG Silver has an average rating of “Moderate Buy” and a consensus price target of C$24.71.

MAG Silver Stock Down 1.3 %

Shares of MAG stock opened at C$21.07 on Wednesday. The stock’s 50 day simple moving average is C$20.92 and its 200 day simple moving average is C$18.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 25.31 and a current ratio of 28.03. MAG Silver has a twelve month low of C$11.15 and a twelve month high of C$25.36. The company has a market capitalization of C$2.17 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 0.84 and a beta of 1.14.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last issued its quarterly earnings data 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. As a group, research analysts predict 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.