MAG Silver Corporation (NYSEAMERICAN:MAG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of MAG Silver Corporation (NYSEAMERICAN:MAG) have been given a consensus rating of “Hold” by the seven ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $21.00.

A number of research analysts have recently commented on the company. HC Wainwright reissued a “neutral” rating and set a $22.00 price objective on shares of MAG Silver in a report on Thursday, July 24th. Scotiabank reissued an “outperform” rating on shares of MAG Silver in a report on Tuesday, August 12th. Finally, Roth Capital reissued a “neutral” rating and set a $23.00 price objective (up previously from $22.00) on shares of MAG Silver in a report on Tuesday, August 12th.

MAG Silver Stock Performance

Shares of NYSEAMERICAN MAG opened at $24.47 on Monday. The firm has a market cap of $2.54 billion, a price-to-earnings ratio of 24.72 and a beta of 0.73. The business’s 50-day simple moving average is $24.14 and its 200-day simple moving average is $20.69. MAG Silver has a 52 week low of $11.72 and a 52 week high of $25.09.

MAG Silver Announces Dividend

The business also recently disclosed a dividend, which was paid on Monday, September 1st. Stockholders of record on Tuesday, August 19th were issued a dividend of $0.124 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 236.0%. MAG Silver’s dividend payout ratio is currently 33.80%.

Institutional Trading of MAG Silver

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rathbones Group PLC grew its holdings in MAG Silver by 4.8% in the 1st quarter. Rathbones Group PLC now owns 16,957 shares of the company’s stock valued at $259,000 after buying an additional 770 shares during the last quarter. D.A. Davidson & CO. grew its holdings in MAG Silver by 9.2% in the 2nd quarter. D.A. Davidson & CO. now owns 11,900 shares of the company’s stock valued at $251,000 after buying an additional 1,000 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in MAG Silver in the 2nd quarter valued at approximately $28,000. Luminist Capital LLC acquired a new stake in MAG Silver in the 2nd quarter valued at approximately $32,000. Finally, Veracity Capital LLC grew its holdings in MAG Silver by 8.5% in the 2nd quarter. Veracity Capital LLC now owns 20,190 shares of the company’s stock valued at $427,000 after buying an additional 1,579 shares during the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

About MAG Silver

MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company's flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.