MAG Silver Corp Surpasses Analyst Target: What Comes Next?
In recent trading, shares of MAG Silver Corp (Symbol: MAG) have crossed above the average analyst 12-month target price of $17.11, changing hands for $17.51/share. Analysts typically respond to such situations in two ways: they may lower their valuations or raise their target prices. Their decision often hinges on recent developments within the company that might have driven the stock price up. Positive trends could suggest that it’s time to increase the target price.
There are 11 different analyst targets within the Zacks coverage universe contributing to that average for MAG Silver Corp. This average is just a compilation of various analyst opinions. Some analysts have lower expectations, such as one projecting a price of $15.48, while another forecasts a much higher target of $21.08. The standard deviation among these targets is $1.599.
Considering the average price target of MAG helps to reflect a “wisdom of crowds” approach—blending insights from numerous experts rather than focusing solely on one opinion. Now that MAG has surpassed the average target price of $17.11/share, investors need to evaluate whether this price point marks a temporary peak or if the stock has room to grow. Below is a table showing the current ratings from analysts covering MAG Silver Corp:
| Recent MAG Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 8 | 8 | 8 | 8 |
| Buy ratings: | 2 | 2 | 2 | 2 |
| Hold ratings: | 1 | 1 | 1 | 1 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 1.36 | 1.36 | 1.36 | 1.36 |
The average rating shown in the last row is based on a scale from 1 to 5, where 1 signifies a Strong Buy, and 5 indicates a Strong Sell. This article utilized data provided by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on MAG — FREE.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
