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Multiple Analysts Recommending This Silver-Focused Explorer

Source: Streetwise Reports

 

September 6, 2017 (Investorideas.com Newswire) A large silver company and its JV partner have plans in place to increase production at their large project in Mexico.


In a report released on Aug. 21, ROTH Capital Partners analyst Joe Reagor described a meeting he had with MAG Silver Corp.'s (MAG:TSX; MAG:NYSE.MKT) management regarding its Juanicipio project in Mexico. The meeting with management focused on Juanicipio "mine plan changes and the potential for further increases in production in the future. . .now we believe the company is planning for additional production increases over time."

Reagor pointed out that MAG Silver's plans "to provide a revised mine plan during Q3 2017 and an FS by year end. We believe these could both provide significant positive catalysts and in particular, the FS could provide a glimpse into the ultimate production potential of the mine."   

Exploration was also discussed during the meeting and Reagor believes that "the Juanicipio project has the potential for additional vein discoveries in the future. With this in mind, management said the company plans to revisit exploring for new veins during 2018 now that it is comfortable with the infill drilling completed at Valdecanas."

Reagor stated, "We believe the rest of 2017 could have significant catalysts that lead to revisions in our modeling to the positive side and as such, we are reiterating our Buy rating."

"As a result of the significant production and exploration upside we see in MAG, we are increasing our price target from $19 to $22," Reagor wrote. MAG Silver is currently trading $12.91.

Bhakti Pavani, an analyst with Euro Pacific Capital, also focused on the Juanicipio project in an Aug. 16 report by highlighting the plan to intensify "underground development activity to support a planned increase in mining rate and processing capacity from 2,650 tonnes per day (tpd) to 4,000 tpd." She pointed out that "the permitting for the upgraded design has already been commenced and the new resource estimate and the design upgrades are expected to be incorporated into a revised mine plan and new MAG technical report, which is expected to be released sometime in 3Q." 

Pavani noted, "While we reiterate [a] Buy rating on the stock, we are reducing our PT from $17.00 to $15.70."

In an Aug. 15 summary, Raymond James analyst Chris Thompson highlighted that "recent exploration success supports an expanded production scenario larger than originally envisaged, which, with significant additional exploration upside offered by the company's prospective JV ground offers potential to potentially catalyze share price performance in 2017." He continued by explaining "that current prices represent an attractive entry point for investors looking for high margin silver-focused precious metals exposure underpinned by development and exploration upside." 

Raymond James' recommendation for MAG Silver is "Stong Buy" with a target price of $25.00. 

Read what other experts are saying about:

Disclosure:

1) Melissa Farley compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an employee. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are sponsors of Streetwise Reports: MAG Silver. Streetwise Reports does not accept stock in exchange for its services. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article.


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