According to The Fly, mAG Silver (MAG), the Materials sector company was revisited today, and remains undervalued for at least one analyst on the street. The company recieved Buy from H.C. Wainwright’s analyst Heiko Ihle.
Ihle said:
“We also highlight that MAG’s cash balance remains strong at C$141.8 million, which we expect to cover planned expenses for more than the next twelve months.”
According to TipRanks.com, Ihle is currently ranked with no stars on a 0-5 star 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.
Currently, the analyst consensus on MAG Silver is a Moderate Buy with an average price target of C$18.
MAG Silver’s market cap is currently C$693.7M and has a P/E ratio of 0. The company has a Price to Book ratio of 2.43.
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.
The company’s shares closed on Tuesday at C$8.11, close to its 52-week low of C$8.10.
