MAG Silver (TSE:MAG) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG)’s stock price crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$21.08 and traded as high as C$21.38. MAG Silver shares last traded at C$20.84, with a volume of 106,409 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Panmure Gordon lifted their price target on shares of MAG Silver from C$26.40 to C$27.10 in a report on Friday, November 22nd. Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Stifel Nicolaus lifted their price target on shares of MAG Silver from C$25.00 to C$25.50 in a report on Monday, November 25th. TD Securities lifted their target price on shares of MAG Silver from C$22.00 to C$25.00 in a research note on Friday, October 18th. Finally, Raymond James lifted their target price on shares of MAG Silver from C$23.00 to C$26.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$25.20.

MAG Silver Trading Down 4.3 %

The company has a quick ratio of 25.31, a current ratio of 28.03 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of C$2.15 billion, a P/E ratio of 26.38, a P/E/G ratio of 0.84 and a beta of 1.14. The firm’s 50 day simple moving average is C$21.08 and its two-hundred day simple moving average is C$19.99.

MAG Silver (TSE:MAG) (NYSEAMERICAN:MAG) last posted its quarterly earnings results on Tuesday, November 12th. The company reported C$0.30 earnings per share for the quarter, beating the consensus estimate of C$0.28 by C$0.02. As a group, analysts forecast that MAG Silver Corp. will post 1.2235023 earnings per share for the current fiscal year.

Insider Buying and Selling at MAG Silver

In other news, Director George Nickolas Paspalas sold 50,024 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of C$21.87, for a total transaction of C$1,094,099.92. Insiders own 0.96% of the company’s stock.

About MAG Silver

MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company’s flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.