MAG Silver Corp Given Consensus Rating of “Buy” by Brokerages (NYSE:MVG)
Shares of MAG Silver Corp (NYSE:MVG) have earned an average recommendation of “Buy” from the nine brokerages that are presently covering the stock, AnalystRatingsNetwork reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $10.60.
A number of analysts have recently weighed in on MVG shares. Analysts at TD Securities initiated coverage on shares of MAG Silver Corp in a research note on Thursday. They set a “speculative buy” rating and a C$14.00 price target on the stock. Separately, analysts at Raymond James raised their price target on shares of MAG Silver Corp from C$11.00 to C$12.00 in a research note on Wednesday, May 28th. They now have an “outperform” rating on the stock. Finally, analysts at Pi Financial cut their price target on shares of MAG Silver Corp from C$10.25 to C$10.00 in a research note on Wednesday, May 28th. They now have a “buy” rating on the stock.
MAG Silver Corp (NYSE:MVG) traded down 3.29% during mid-day trading on Friday, hitting $9.99. 36,875 shares of the company’s stock traded hands. MAG Silver Corp has a 52-week low of $4.87 and a 52-week high of $10.39. The stock’s 50-day moving average is $7.70 and its 200-day moving average is $6.9. The company’s market cap is $602.3 million.
MAG Silver Corp (NYSE:MVG) last issued its quarterly earnings data on Wednesday, April 2nd. The company reported ($0.13) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.04) by $0.09. On average, analysts predict that MAG Silver Corp will post $-0.16 earnings per share for the current fiscal year.
MAG Silver Corp. is focused on advancing two projects located within the Mexican Silver Belt. Currently, it is in pre-development on the high grade Valdecanas Silver vein and delineating the Desprendido and Juanicipio discoveries in Zacatecas State, all within the joint venture between MAG Silver (NYSE:MVG) and Fresnillo PLC (56%).
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