Analyst Heiko Ihle of H.C. Wainwright reiterated a Buy rating on MAG Silver (MAG – Research Report), retaining the price target of $21.00.
Heiko Ihle has given his Buy rating due to a combination of factors, primarily focusing on the promising exploration updates from MAG Silver’s Larder and Deer Trail projects. The company’s commitment to advancing these projects, which show potential for high-grade mineralization, is a key driver of this positive outlook. The exploration efforts at both sites, including drill testing to expand mineralization zones, are seen as potential catalysts for significant shareholder value.
At the Larder Project, the experienced team at MAG Silver has successfully confirmed increased grades and widths at depth, extending the Cheminis and Bear zones significantly. The acquisition of the Goldstake Property has doubled the land area, enhancing the site’s historic high-grade potential. Similarly, the Deer Trail Project has seen significant expansion, with step-out drilling revealing notable copper-silver-zinc mineralization. These developments, along with the anticipated 2025 drilling program, underpin Ihle’s confidence in MAG Silver’s growth potential, justifying the Buy rating.
Ihle covers the Basic Materials sector, focusing on stocks such as Endeavour Silver, Drdgold, and First Majestic Silver. According to TipRanks, Ihle has an average return of 3.9% and a 44.44% success rate on recommended stocks.
In another report released on February 11, National Bank also maintained a Buy rating on the stock with a C$30.50 price target.