MAG Silver Corp. (MAG): A Technical View

As of Wednesday close, MAG Silver Corp.’s (AMEX:MAG) stock was up $0.47, moving up 3.03 percent to $16.00. The average number of shares traded per day over the past five days has been 309,120 shares. 3 times new highs have been achieved over the past 5 days, with a $0.45 gain in that time frame. In the last twenty days, the average volume was 458,165, while in the previous 50 days, it was 522,656.

Since last month, MAG stock rose 26.08%. Shares of the company fell to $12.24 on 10/24/22, the lowest level in the past month. A 52-week high of $19.58 was reached on 03/08/22 after having rallying from a 52-week low of $10.32. Since the beginning of this year, MAG’s stock price has risen by 2.11% or $0.33, and marked a new high 9 times. However, the stock has declined by -18.28% since its 52-week high.

Valuation Metrics

Right now, MAG Silver Corp. (MAG) has a P/E ratio of about 57.97. The stock’s beta is 1.07.

Financial Health

In the three months ended June 29, MAG Silver Corp.’s quick ratio stood at 26.20, while its current ratio was 26.20, showing that the company is able to pay off its debt. Based on annual data, MAG earned $15.86 million in gross profit and brought in $11.4 million in revenue.

According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. While analysts expected MAG Silver Corp. to report $0.11 quarterly earnings, the actual figure was $0.08 per share, beating the consensus estimate by -27.30%. During the quarter, the company generated -$3.19 million in EBITDA. The liabilities of MAG Silver Corp. were 5.03 million at the end of its most recent quarter ended June 29, and its total debt was $0.36 million.

Technical Picture

This quick technical analysis looks at MAG Silver Corp.’s (MAG) price momentum. With a historical volatility rate of 31.05%, the RSI 9-day stood at 68.21% on 23 November.

With respect to its five-day moving average, the current MAG Silver Corp. price is up by +2.89% percent or $0.45. At present, MAG shares trade +20.39% above its 20-day simple moving average and +39.37% percent above its 100-day simple moving average. However, the stock is currently trading approximately +27.29% above its SMA50 and +8.77% above its SMA200.

Stochastic coefficient K was 80.45% and Stochastic coefficient D was 75.19%, while ATR was 0.68. Given the Stochastic reading of 90.99% for the 14-day period, the RSI (14) reading has been calculated as 65.71%.

Analyst Ratings

MAG Silver Corp. downgraded its rating on MAG Silver Corp. (AMEX: MAG) to a Sector perform in a note to investors on January 21, 2022. The analysts firm previously had a Sector outperform rating on the stock.

silver