MAG Silver Corp Given Average Recommendation of “Buy” by Brokerages (NYSE:MVG)
Shares of MAG Silver Corp (NYSE:MVG) have received a consensus rating of “Buy” from the nine analysts that are currently covering the stock, American Banking News reports. Four analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $10.68.
A number of analysts have recently weighed in on MVG shares. Analysts at BMO Capital Markets reiterated an “outperform” rating on shares of MAG Silver Corp in a research note on Thursday, July 17th. Separately, analysts at Pi Financial downgraded shares of MAG Silver Corp from a “buy” rating to a “neutral” rating in a research note on Monday, July 7th. Finally, analysts at TD Securities initiated coverage on shares of MAG Silver Corp in a research note on Thursday, June 19th. They set a “speculative buy” rating and a C$14.00 price target on the stock.
MAG Silver Corp (NYSE:MVG) opened at 9.07 on Wednesday. MAG Silver Corp has a 52-week low of $4.87 and a 52-week high of $10.64. The stock’s 50-day moving average is $9.40 and its 200-day moving average is $7.8. The company’s market cap is $546.8 million.
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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