MAG Silver Corp Now Covered by TD Securities

TD Securities started coverage on shares of MAG Silver Corp in a research note issued on Thursday. The firm set a “buy” rating and a C$14.00 price target on the stock.

A number of other firms have also recently commented on MVG. Analysts at Raymond James raised their price target on shares of MAG Silver Corp from C$11.00 to C$12.00 in a research note on Wednesday, May 28th. They now have an “outperform” rating on the stock. Separately, analysts at PiFinancial cut their price target on shares of MAG Silver Corp from C$10.25 to C$10.00 in a research note on Wednesday, May 28th. They now have a “buy” rating on the stock. Finally, analysts at National Bank Financial initiated coverage on shares of MAG Silver Corp in a research note on Thursday, May 22nd. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $10.60.

MAG Silver Corp traded up 9.89% on Thursday, hitting $10.33. 153,582 shares of the company’s stock traded hands. MAG Silver Corp has a 52 week low of $4.87 and a 52 week high of $9.44. The stock has a 50-day moving average of $7.63 and a 200-day moving average of $6.96. The company’s market cap is $622.8 million.

MAG Silver Corp (NYSE:MVG) last posted its quarterly earnings results on Wednesday, April 2nd. The company reported ($0.13) earnings per share for the quarter, missing the analyst's consensus estimate of ($0.04) by $0.09. Analysts expect that MAG Silver Corp will post $-0.17 EPS for the current fiscal year.

MAG Silver Corp. is focused on advancing two projects located within the Mexican Silver Belt. Currently, it is in pre-development on the high grade Valdecanas Silver vein and delineating the Desprendido and Juanicipio discoveries in Zacatecas State, all within the joint venture between MAG Silver (NYSE:MVG) and Fresnillo PLC (56%).