MAG Silver (TSE:MAG) Given New C$31.70 Price Target at Cormark

Key Points

• Cormark has raised its price target for MAG Silver from C$25.10 to C$31.70, suggesting a minimal downside potential of 0.25% from its previous close.
• Recent analyst ratings show a shift in sentiment, with several firms downgrading MAG Silver from "strong-buy" to "hold" or "strong sell," resulting in an average rating of "Hold" with a consensus price target of C$27.19.
• MAG Silver's shares have seen a rise to C$31.78, with significant trading volume and a market cap of C$2.30 billion, while maintaining a strong current ratio and low debt-to-equity ratio.

MAG Silver (TSE:MAG - Get Free Report) NYSEAMERICAN: MAG had its price target lifted by equities researchers at Cormark from C$25.10 to C$31.70 in a research note issued on Tuesday,BayStreet.CA reports. Cormark's target price would suggest a potential downside of 0.50% from the company's current price. Cormark also issued estimates for MAG Silver's FY2025 earnings at $1.40 EPS and FY2026 earnings at $0.92 EPS.

A number of other research analysts also recently issued reports on the company. HC Wainwright downgraded MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Canaccord Genuity Group downgraded MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Finally, TD Securities downgraded MAG Silver from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of C$27.19.

MAG Silver Stock Up 0.8%

Shares of TSE MAG traded up C$0.24 during trading on Tuesday, reaching C$31.86. The company had a trading volume of 313,734 shares, compared to its average volume of 255,041. The stock has a market cap of C$2.31 billion, a PE ratio of 30.95, a P/E/G ratio of 0.84 and a beta of 1.14. The company has a quick ratio of 25.31, a current ratio of 32.55 and a debt-to-equity ratio of 0.01. MAG Silver has a 12-month low of C$15.89 and a 12-month high of C$32.19. The business's 50-day moving average is C$29.59 and its 200 day moving average is C$25.19.

MAG Silver Company Profile

MAG Silver Corp is a Canadian mining company. It is focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district-scale, silver-dominant projects in the Americas. Its principal focus and asset are the Juanicipio Project (44%), being developed in a JV partnership with Fresnillo Plc (56%).