MAG Silver (TSE:MAG) Sets New 12-Month High – Still a Buy?

Shares of MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$22.22 and last traded at C$21.68, with a volume of 78232 shares trading hands. The stock had previously closed at C$21.71.

Analysts Set New Price Targets

Several research firms have recently commented on MAG. TD Securities upped their price target on shares of MAG Silver from C$22.00 to C$25.00 in a research report on Friday. Stifel Nicolaus boosted their target price on shares of MAG Silver from C$21.25 to C$21.50 in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$21.50.

MAG Silver Price Performance

The business has a 50-day simple moving average of C$18.70 and a two-hundred day simple moving average of C$17.70. The company has a quick ratio of 25.31, a current ratio of 28.03 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of C$2.39 billion, a price-to-earnings ratio of 29.11, a P/E/G ratio of 0.84 and a beta of 1.14.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last announced its earnings results on Thursday, August 1st. The company reported C$0.28 earnings per share for the quarter, beating the consensus estimate of C$0.27 by C$0.01. As a group, research analysts predict that MAG Silver Corp. will post 1.2235023 earnings per share for the current fiscal year.

MAG Silver Company Profile

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.