MAG Silver Corp (MAG) Receives a Buy from H.C. Wainwright


In a report released today, Heiko Ihle from H.C. Wainwright reiterated a Buy rating on MAG Silver Corp (NYSE: MAG), with a price target of $19. The company’s shares closed yesterday at $8.64, close to its 52-week low of $8.47.

According to TipRanks.com, Ihle is a 2-star analyst with an average return of 0.2% and a 31.4% 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 $20.50 average price target.

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Based on MAG Silver Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $183K. In comparison, last year the company had a GAAP net loss of $1.32 million.

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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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