In a report released today, Ryan Thompson from BMO Capital maintained a Hold rating on MAG Silver (MAG), with a price target of $23.50. The company’s shares closed last Wednesday at $18.21.
According to TipRanks.com, Thompson is a 4-star analyst with an average return of 22.3% and a 56.0% success rate. Thompson covers the Basic Materials sector, focusing on stocks such as First Majestic Silver, Hecla Mining Company, and Fortuna Silver Mines.
MAG Silver has an analyst consensus of Moderate Buy, with a price target consensus of $22.50.
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Based on MAG Silver’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $10.11 million. In comparison, last year the company had a GAAP net loss of $1.02 million.
Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MAG in relation to earlier this year.
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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.
