H.C. Wainwright Sticks to Its Buy Rating for MAG Silver Corp (MAG)


H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on MAG Silver Corp (NYSE: MAG) today and set a price target of $19. The company’s shares closed on Friday at $8.10.

Ihle wrote:

“We highlight that Fresnillo has recently reiterated its expectation of initial production from the site as early as mid-2020.”

According to TipRanks.com, Ihle is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -5.4% and a 31.1% success rate. Ihle covers the Basic Materials sector, focusing on stocks such as Solitario Exploration & Royalty, Americas Silver Corporation, and Golden Star Resources Ltd.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MAG Silver Corp with a $19 average price target.

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Based on MAG Silver Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $2.75 million. In comparison, last year the company had a GAAP net loss of $786K.

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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.

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