MAG Silver (TSE:MAG) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG)’s share price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$21.08 and traded as high as C$21.38. MAG Silver shares last traded at C$20.84, with a volume of 106,409 shares changing hands.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. CIBC increased their price target on shares of MAG Silver from C$25.00 to C$26.00 in a report on Monday, December 2nd. Panmure Gordon raised their target price on shares of MAG Silver from C$26.40 to C$27.10 in a report on Friday, November 22nd. BMO Capital Markets raised their target price on shares of MAG Silver from C$24.00 to C$26.00 in a report on Friday, October 25th. TD Securities raised their target price on shares of MAG Silver from C$22.00 to C$25.00 in a report on Friday, October 18th. Finally, Raymond James raised their target price on shares of MAG Silver from C$23.00 to C$26.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, MAG Silver currently has an average rating of “Moderate Buy” and an average price target of C$25.20.

MAG Silver Price Performance

The company has a current ratio of 28.03, a quick ratio of 25.31 and a debt-to-equity ratio of 0.01. The firm has a market cap of C$2.15 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14. The company’s 50-day moving average is C$21.08 and its 200-day moving average is C$19.99.

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 (EPS) for the quarter, topping the consensus estimate of C$0.28 by C$0.02. Equities research analysts predict that MAG Silver Corp. will post 1.2235023 earnings per share for the current year.

Insider Buying and Selling at MAG Silver

In other MAG Silver news, Director George Nickolas Paspalas sold 50,024 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of C$21.87, for a total value of C$1,094,099.92. Company insiders own 0.96% of the company’s stock.

MAG Silver Company Profile

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.