MAG Silver Corporation (NYSEAMERICAN:MAG) Receives $21.00 Average PT from Analysts

Shares of MAG Silver Corporation (NYSEAMERICAN:MAG) have been given a consensus recommendation of “Hold” by the seven brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $21.00.

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

MAG Silver Trading Down 1.2%

MAG Silver stock opened at $24.47 on Friday. The company has a fifty day simple moving average of $24.48 and a 200-day simple moving average of $21.85. The stock has a market cap of $2.54 billion, a P/E ratio of 24.72 and a beta of 0.73. MAG Silver has a 12-month low of $11.72 and a 12-month high of $25.09.

MAG Silver Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, September 1st. Investors of record on Tuesday, August 19th were given a $0.124 dividend. This represents a dividend yield of 236.0%. The ex-dividend date of this dividend was Monday, August 18th. MAG Silver’s dividend payout ratio (DPR) is 33.80%.

Institutional Investors Weigh In On MAG Silver

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of MAG Silver by 19.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,929,391 shares of the company’s stock worth $62,109,000 after purchasing an additional 473,671 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of MAG Silver in the 2nd quarter valued at about $57,534,000. Alpine Associates Management Inc. acquired a new stake in shares of MAG Silver in the 2nd quarter valued at about $53,779,000. Royal Bank of Canada grew its stake in MAG Silver by 8.6% during the 1st quarter. Royal Bank of Canada now owns 1,660,583 shares of the company’s stock worth $25,374,000 after buying an additional 131,813 shares during the last quarter. Finally, AQR Arbitrage LLC acquired a new position in MAG Silver during the second quarter worth approximately $30,553,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

MAG Silver Company Profile

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.