In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on MAG Silver Corp (MAG), with a price target of $19. The company’s shares closed yesterday at $6.15.
Ihle commented:
“We also highlight that MAG’s cash balance remains strong at $141.8 million, which we expect to cover planned expenses for more than the next twelve months.”
According to TipRanks.com, Ihle ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -15.4% and a 18.8% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.
MAG Silver Corp has an analyst consensus of Moderate Buy, with a price target consensus of $19.
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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.
