In a report released today, Stephen Soock from Stifel Nicolaus maintained a Buy rating on MAG Silver (MAG – Research Report), with a price target of C$19.00. The company’s shares closed yesterday at $9.06.
Soock covers the Basic Materials sector, focusing on stocks such as Prime Mining, SilverCrest Metals, and Artemis Gold. According to TipRanks, Soock has an average return of -10.5% and a 32.03% success rate on recommended stocks.
Currently, the analyst consensus on MAG Silver is a Strong Buy with an average price target of $16.02, implying a 76.82% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $18.50 price target.
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Based on MAG Silver’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $862 thousand. In comparison, last year the company had a net profit of $8.23 million
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MAG Silver (MAG) Company Description:
MAG Silver Corp. engages in the exploration, acquisition, and development of mineral properties. It focuses on silver projects located in the Mexican Silver Belt including Juanicipio and Cinco de Mayo in Mexico. The company was founded on April 21, 1999 and is headquartered in Vancouver, Canada.
