In yesterday’s Wall Street session, MAG Silver Corp. (AMEX:MAG) shares traded at $11.43, down -1.97% from the previous session.
As of this writing, 11 analysts cover MAG Silver Corp. (AMEX:MAG). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $23.00 and a low of $14.28, we find $18.33. Given the previous closing price of $11.66, this indicates a potential upside of 57.2 percent. MAG stock price is now -4.12% away from the 50-day moving average and -14.27% away from the 200-day moving average. The market capitalization of the company currently stands at $1.55B.
There are 2 analysts who have given it a hold rating, whereas 7 have given it a buy rating. Brokers who have rated the stock have averaged $17.87 as their price target over the next twelve months.
Insiders disposed of 199,192 shares of company stock worth roughly $2.28 million over the past 1 year. A total of 0.91% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MAG stock. A new stake in MAG Silver Corp. shares was purchased by ETF MANAGERS GROUP, LLC during the first quarter worth $61,923,000. CWA ASSET MANAGEMENT GROUP, LLC invested $3,290,000 in shares of MAG during the first quarter. In the first quarter, VERITION FUND MANAGEMENT LLC acquired a new stake in MAG Silver Corp. valued at approximately $2,180,000. ANSON FUNDS MANAGEMENT LP acquired a new stake in MAG for approximately $1,829,000. LYNWOOD CAPITAL MANAGEMENT INC. purchased a new stake in MAG valued at around $1,143,000 in the second quarter. In total, there are 189 active investors with 51.33% ownership of the company’s stock.
Thursday morning saw MAG Silver Corp. (AMEX: MAG) opened at $11.84. During the past 12 months, MAG Silver Corp. has had a low of $10.32 and a high of $17.02. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 11.80, and a quick ratio of 11.80. The fifty day moving average price for MAG is $11.89 and a two-hundred day moving average price translates $13.33 for the stock.
The latest earnings results from MAG Silver Corp. (AMEX: MAG) was released for Mar, 2023. According to the Silver Company, earnings per share came in at $0.05, missing analysts’ expectations of $0.11 by -0.06. This compares to $0.03 EPS in the same period last year. The company reported revenue of $3.55 million for the quarter, compared to $12.79 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -72.2 percent.
MAG Silver Corp.(MAG) Company Profile
MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.
