11:22 AM EST, 03/06/2024 (MT Newswires) -- National Bank of Canada noted Tuesday MAG Silver Corp. (MAG.TO)'s 2024 guidance for the Juanicipio mine in Mexico.

MAG outlined silver grades at 380 g/t to 420 g/t with a throughput of 91% of the 4,000-tonne-per-day nameplate.

The guidance implies production of 18.5 million ounces of silver, the bank said.

National Bank ascribed a neutral bias while noting the company's re-rate potential on confirmation of its free cash flow outlook.

The bank gave MAG an outperform rating with a $21.00 price target.

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