MAG Silver Corp (TSE:MAG) (NYSEAMERICAN:MAG) reached a new 52-week high during trading on Tuesday . The company traded as high as C$19.33 and last traded at C$19.02, with a volume of 171685 shares changing hands. The stock had previously closed at C$18.40.
A number of research firms have commented on MAG. National Bank Financial cut their target price on shares of MAG Silver from C$21.00 to C$20.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Cormark reaffirmed a “top pick” rating and issued a C$18.60 price objective on shares of MAG Silver in a research report on Tuesday, May 26th. TD Securities lifted their price objective on shares of MAG Silver from C$19.50 to C$22.00 and gave the stock a “speculative buy” rating in a research report on Tuesday, April 28th. HC Wainwright reaffirmed a “buy” rating and issued a C$16.50 price objective on shares of MAG Silver in a research report on Tuesday, May 26th. Finally, Canaccord Genuity reaffirmed a “speculative buy” rating and issued a C$21.25 price objective on shares of MAG Silver in a research report on Tuesday, May 26th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of C$19.48.
The business’s 50 day moving average is C$17.03 and its 200 day moving average is C$14.36. The company has a market capitalization of $1.68 billion and a price-to-earnings ratio of -87.67. The company has a debt-to-equity ratio of 0.24, a quick ratio of 103.87 and a current ratio of 104.90.
In other MAG Silver news, Senior Officer Peter Megaw sold 37,500 shares of MAG Silver stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of C$17.06, for a total transaction of C$639,750.00. Following the completion of the sale, the insider now directly owns 10,350 shares in the company, valued at approximately C$176,571. Also, Director Richard Peter Clark sold 40,000 shares of MAG Silver stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of C$18.60, for a total transaction of C$744,000.00. Following the sale, the director now owns 38,513 shares of the company’s stock, valued at C$716,341.80. Insiders sold a total of 92,500 shares of company stock valued at $1,646,250 over the last quarter.
About MAG Silver (TSE:MAG)
MAG Silver Corp. focuses on acquiring, exploring, and development of mineral properties in Canada. It explores for copper, gold, silver, lead, and zinc deposits. The company primarily holds interests in the Juanicipio property covering 7,679 hectares located in the Fresnillo District, Zacatecas State, Mexico.
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