Summary
- MAG Silver was one of the best-performing precious metals stocks last year, considering it was flat vs. a double-digit decline in the Gold Miners Index and Silver Miners Index.
- This impressive performance can be attributed to the fact that investors have lots to look forward to in 2023, with drilling at multiple properties and a significant increase in earnings.
- In fact, Juanicipio should see processing rates nearly double from Q3 levels once the plant is at full capacity, translating to annual attributable production of 8.0+ million ounces of silver.
- That said, silver is nearing resistance and MAG Silver is getting closer to what I consider fair value (US$17.70), so I think the better course of action is buying dips vs. chasing this rally.
For further details see:
MAG Silver: An Exciting Year Ahead