CIBC Increases MAG Silver (TSE:MAG) Price Target to C$25.00

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) had its price objective lifted by 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 price target indicates a potential upside of 17.15% from the company’s previous close.

A number of other research firms also recently issued reports on MAG. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. TD Securities raised their price objective on MAG Silver from C$22.00 to C$25.00 in a research report on Friday, October 18th. Raymond James boosted their target price on MAG Silver from C$23.00 to C$26.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus raised their price target on MAG Silver from C$21.50 to C$25.00 in a report on Monday, October 21st. Finally, BMO Capital Markets increased their price objective on shares of MAG Silver from C$24.00 to C$26.00 in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, MAG Silver presently has an average rating of “Moderate Buy” and an average target price of C$24.71.

MAG Silver Trading Up 3.0 %

TSE:MAG opened at C$21.34 on Wednesday. The company has a 50-day moving average price of C$20.76 and a 200-day moving average price of C$18.69. The stock has a market cap of C$2.20 billion, a price-to-earnings ratio of 26.90, a P/E/G ratio of 0.84 and a beta of 1.14. The company has a current ratio of 28.03, a quick ratio of 25.31 and a debt-to-equity ratio of 0.01. MAG Silver has a 12 month low of C$11.15 and a 12 month high of C$25.36.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Tuesday, November 12th. The company reported C$0.30 EPS for the quarter, topping the consensus estimate of C$0.28 by C$0.02. Equities 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.