MAG Silver price target lowered to $16.50 from $17.50 at Roth MKM

Roth MKM lowered the firm’s price target on MAG Silver (MAG) to $16.50 from $17.50 and keeps a Neutral rating on the shares following the company’s earnings report. The firm notes results were mixed compared to its estimates. Additionally, Roth points out that the Juanicipio JV has retained a higher cash balance than it previously anticipated, while market sentiment has shifted to negative for gold and silver.