MAG Silver (TSE:MAG) Stock Crosses Above 50 Day Moving Average – Here’s Why

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$34.38 and traded as high as C$34.98. MAG Silver shares last traded at C$34.38, with a volume of 146,911 shares.

Analyst Ratings Changes

Separately, Cormark upped their price objective on shares of MAG Silver from C$25.10 to C$31.70 in a report on Tuesday, August 12th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, MAG Silver presently has a consensus rating of “Reduce” and a consensus price target of C$27.93.

MAG Silver Trading Up 2.9%

The company has a 50 day simple moving average of C$34.38 and a two-hundred day simple moving average of C$31.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 25.31 and a current ratio of 32.55. The firm has a market cap of C$3.56 billion, a PE ratio of 34.73, a P/E/G ratio of 0.84 and a beta of 1.12.

About MAG Silver

MAG Silver Corp is a Canadian mining company. It is focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district-scale, silver-dominant projects in the Americas. Its principal focus and asset are the Juanicipio Project (44%), being developed in a JV partnership with Fresnillo Plc (56%).