H.C. Wainwright analyst Heiko Ihle reiterated a Buy rating on MAG Silver Corp (MAG) today and set a price target of $16.50. The company’s shares closed yesterday at $11.19, close to its 52-week high of $11.95.
Ihle wrote:
“We reiterate our Buy rating and our PT of $16.50 per share. Our valuation remains based on a DCF of anticipated operations at Juanicipio. We continue using an unchanged 7.0% discount rate that accounts for the near-term production at site.”
According to TipRanks.com, Ihle is a 5-star analyst with an average return of 6.6% and a 54.6% 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 $16.50 average price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $11.95 and a one-year low of $6.12. Currently, MAG Silver Corp has an average volume of 293K.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
