MAG Silver Corp. (NYSEAMERICAN:MAG) Receives Consensus Rating of "Hold" from Brokerages

MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report) has been assigned an average rating of "Hold" from the seven brokerages that are covering the stock, MarketBeat.com 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 12-month target price among analysts that have updated their coverage on the stock in the last year is $18.13.

A number of analysts have commented on the company. HC Wainwright reissued a "buy" rating and set a $22.00 price objective on shares of MAG Silver in a report on Thursday, April 24th. Scotiabank reaffirmed a "sector perform" rating on shares of MAG Silver in a research report on Monday, April 14th. Raymond James reissued an "outperform" rating on shares of MAG Silver in a research report on Tuesday, March 25th. Roth Mkm cut their price objective on shares of MAG Silver from $16.50 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, March 25th. Finally, Canaccord Genuity Group cut shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th.

MAG Silver Stock Down 1.6%

NYSEAMERICAN:MAG traded down $0.35 on Tuesday, hitting $21.19. The stock had a trading volume of 1,894,804 shares, compared to its average volume of 1,152,369. MAG Silver has a 52 week low of $11.29 and a 52 week high of $21.83. The business's fifty day moving average is $16.67 and its 200 day moving average is $15.82. The company has a market cap of $2.19 billion, a PE ratio of 29.85 and a beta of 1.09.

MAG Silver Announces Dividend

The company also recently disclosed a -- dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were paid a $0.18 dividend. The ex-dividend date was Monday, May 19th. This represents a yield of 0.5%. MAG Silver's payout ratio is 101.41%.

Institutional Investors Weigh In On MAG Silver

Institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank grew its position in shares of MAG Silver by 0.6% in the fourth quarter. Swiss National Bank now owns 193,900 shares of the company's stock valued at $2,633,000 after purchasing an additional 1,200 shares in the last quarter. Intact Investment Management Inc. increased its holdings in MAG Silver by 21.3% during the 4th quarter. Intact Investment Management Inc. now owns 307,433 shares of the company's stock worth $4,176,000 after acquiring an additional 54,033 shares during the period. Raymond James Financial Inc. purchased a new stake in MAG Silver in the 4th quarter worth approximately $3,482,000. Strategic Financial Concepts LLC bought a new position in MAG Silver in the 4th quarter valued at $240,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of MAG Silver by 56.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 278,000 shares of the company's stock valued at $3,781,000 after purchasing an additional 100,500 shares in the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.