MAG Silver (TSE:MAG) Reaches New 52-Week High at $19.30

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as C$19.30 and last traded at C$19.30, with a volume of 197391 shares changing hands. The stock had previously closed at C$18.31.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. National Bankshares raised their target price on shares of MAG Silver from C$21.00 to C$24.00 and gave the company an “outperform” rating in a research note on Wednesday, May 29th. Ventum Cap Mkts downgraded MAG Silver from a “buy” rating to a “neutral” rating in a report on Friday, May 3rd. CIBC increased their target price on MAG Silver from C$17.50 to C$22.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 22nd. Raymond James lifted their price target on MAG Silver from C$19.50 to C$20.50 in a research report on Tuesday, April 23rd. Finally, Stifel Nicolaus increased their price objective on shares of MAG Silver from C$20.25 to C$20.50 in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$21.06.

MAG Silver Price Performance

The company has a market capitalization of C$1.87 billion, a P/E ratio of 23.30, a price-to-earnings-growth ratio of 0.84 and a beta of 1.03. The company has a debt-to-equity ratio of 0.02, a current ratio of 14.66 and a quick ratio of 25.31. The firm’s 50-day moving average is C$17.63 and its 200-day moving average is C$15.24.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last released its earnings results on Tuesday, May 14th. The company reported C$0.19 earnings per share for the quarter, beating the consensus estimate of C$0.14 by C$0.05. Analysts predict that MAG Silver Corp. will post 0.697861 EPS for the current fiscal year.

Insider Buying and Selling at MAG Silver

In other MAG Silver news, Senior Officer Marc Justin Turcotte sold 4,208 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of C$17.22, for a total transaction of C$72,446.61. Insiders own 0.96% of the company’s stock.

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.