MAG Silver upgraded to Buy on Juanicipio cash flow at Canaccord

Canaccord analyst Michael Fairbairn last night upgraded MAG Silver to Buy from Speculative Buy with an unchanged price target of C$22 following the Q1 report. With the mill now operating as designed and Juanicipio generating significant free cash flow, the firm removed the “Speculative” qualifier on its rating and moved the stock to Buy.