In a report released today, Ryan Thompson from BMO Capital reiterated a Buy rating on MAG Silver (MAG), with a price target of C$17.50. The company’s shares closed last Monday at $10.44.
According to TipRanks.com, Thompson is a 3-star analyst with an average return of 6.1% and a 50.0% success rate. Thompson covers the Basic Materials sector, focusing on stocks such as Fortuna Silver Mines, Hecla Mining Company, and SilverCrest Metals.
Currently, the analyst consensus on MAG Silver is a Moderate Buy with an average price target of $18.50, representing a 78.9% upside. In a report issued on November 11, H.C. Wainwright also reiterated a Buy rating on the stock with a $18.50 price target.
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Based on MAG Silver’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $2.01 million. In comparison, last year the company had a net profit of $597K.
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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.
