MAG Silver Corporation (NYSEAMERICAN:MAG) Receives $19.38 Consensus Target Price from Brokerages

Key Points

• MAG Silver Corporation (NYSEAMERICAN:MAG) has been given a consensus recommendation of "Hold" by analysts, with one sell, five hold, and one buy recommendation among seven research firms.
• The average 12-month price target for MAG Silver's stock is $19.38, with recent adjustments from analysts including a downgrade by TD Securities from "strong-buy" to "strong sell."
• The company recently announced a $0.18 dividend, which represents a yield of 0.5%, alongside a dividend payout ratio of 33.80%.

Shares of MAG Silver Corporation (NYSEAMERICAN:MAG - Get Free Report) have been given a consensus rating of "Hold" by the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $19.38.

Several equities research analysts recently weighed in on MAG shares. Roth Capital lifted their price objective on MAG Silver from $18.00 to $21.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. HC Wainwright reiterated a "neutral" rating and set a $22.00 price objective on shares of MAG Silver in a research note on Thursday, July 24th. Scotiabank reiterated a "sector perform" rating on shares of MAG Silver in a research note on Monday, April 14th. TD Securities lowered MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Finally, Canaccord Genuity Group lowered MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th.

MAG Silver Stock Down 0.4%

MAG traded down $0.09 during trading hours on Wednesday, hitting $20.33. The stock had a trading volume of 695,812 shares, compared to its average volume of 1,247,607. The company's fifty day simple moving average is $20.98 and its 200 day simple moving average is $17.17. MAG Silver has a 1 year low of $11.29 and a 1 year high of $22.66. The stock has a market cap of $2.10 billion, a PE ratio of 23.10 and a beta of 0.75.

MAG Silver Dividend Announcement

The business also recently declared a -- dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were issued a dividend of $0.18 per share. The ex-dividend date was Monday, May 19th. This represents a dividend yield of 50.0%. MAG Silver's dividend payout ratio (DPR) is presently 33.80%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its stake in shares of MAG Silver by 18.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 328,000 shares of the company's stock worth $4,990,000 after acquiring an additional 50,000 shares during the last quarter. D.A. Davidson & CO. purchased a new position in shares of MAG Silver during the 1st quarter worth $167,000. Alps Advisors Inc. boosted its stake in shares of MAG Silver by 711.6% during the 1st quarter. Alps Advisors Inc. now owns 392,675 shares of the company's stock worth $6,000,000 after acquiring an additional 344,290 shares during the last quarter. Ninepoint Partners LP purchased a new position in shares of MAG Silver during the 1st quarter worth $657,000. Finally, Two Sigma Investments LP purchased a new position in shares of MAG Silver during the 4th quarter worth $401,000. 52.50% of the stock is owned by 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.