MAG Silver Corporation (NYSEAMERICAN:MAG) Receives Average Recommendation of "Hold" from Brokerages

MAG Silver Corporation (NYSEAMERICAN:MAG - Get Free Report) has received an average recommendation of "Hold" from the seven ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $19.38.

MAG has been the subject of several recent analyst reports. Scotiabank reissued a "sector perform" rating on shares of MAG Silver in a report on Monday, April 14th. Raymond James Financial reissued an "outperform" rating on shares of MAG Silver in a report on Tuesday, March 25th. HC Wainwright restated a "buy" rating and set a $22.00 price objective on shares of MAG Silver in a research note on Thursday, April 24th. Roth Capital lifted their target price on MAG Silver from $18.00 to $21.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Finally, Canaccord Genuity Group downgraded MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th.

Hedge Funds Weigh In On MAG Silver

Hedge funds and other institutional investors have recently modified their holdings of the company. First Eagle Investment Management LLC grew its stake in shares of MAG Silver by 46.4% in the fourth quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company's stock worth $106,379,000 after purchasing an additional 2,486,538 shares in the last quarter. Millennium Management LLC lifted its holdings in MAG Silver by 3,324.7% in the fourth quarter. Millennium Management LLC now owns 886,203 shares of the company's stock worth $12,052,000 after purchasing an additional 860,326 shares during the period. Goldman Sachs Group Inc. grew its position in MAG Silver by 124.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 805,198 shares of the company's stock valued at $12,303,000 after buying an additional 446,543 shares in the last quarter. Alps Advisors Inc. increased its stake in MAG Silver by 711.6% during the 1st quarter. Alps Advisors Inc. now owns 392,675 shares of the company's stock valued at $6,000,000 after buying an additional 344,290 shares during the period. Finally, Monaco Asset Management SAM increased its stake in shares of MAG Silver by 127.6% during the first quarter. Monaco Asset Management SAM now owns 526,000 shares of the company's stock valued at $8,034,000 after acquiring an additional 294,878 shares during the period. Institutional investors and hedge funds own 52.50% of the company's stock.

MAG Silver Price Performance

NYSEAMERICAN MAG traded down $0.54 on Friday, reaching $21.17. The company had a trading volume of 2,309,889 shares, compared to its average volume of 1,717,082. MAG Silver has a 1 year low of $11.29 and a 1 year high of $21.83. The firm has a 50-day moving average of $19.41 and a 200-day moving average of $16.50. The firm has a market capitalization of $2.19 billion, a PE ratio of 24.06 and a beta of 0.75.

MAG Silver Announces Dividend

The business also recently declared a -- dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were issued a $0.18 dividend. This represents a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, May 19th. MAG Silver's dividend payout ratio (DPR) is 33.80%.

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.