MAG Silver Corporation (NYSEAMERICAN:MAG) Given Average Recommendation of "Hold" by Analysts

Key Points

• MAG Silver Corporation received a consensus recommendation of "Hold" from seven research firms, with one analyst recommending a sell and two giving buy ratings.
• The company's average twelve-month price target from analysts is $21.00, with notable price targets of $22.00 and $23.00 set by different brokerages.
• MAG Silver announced a dividend of $0.124 per share, representing a significant yield of 236.0%, with payment scheduled for September 1st.

MAG Silver Corporation (NYSEAMERICAN:MAG - Get Free Report) has earned an average recommendation of "Hold" from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $21.00.

A number of brokerages have weighed in on MAG. HC Wainwright reiterated a "neutral" rating and issued a $22.00 target price on shares of MAG Silver in a report on Thursday, July 24th. TD Securities downgraded MAG Silver from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, May 22nd. Roth Capital reiterated a "neutral" rating and issued a $23.00 target price (up from $22.00) on shares of MAG Silver in a report on Tuesday, August 12th. Scotiabank reiterated an "outperform" rating on shares of MAG Silver in a report on Tuesday, August 12th. Finally, Canaccord Genuity Group downgraded MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th.

MAG Silver Price Performance

Shares of MAG Silver stock traded up $0.55 during midday trading on Friday, reaching $24.52. The company had a trading volume of 644,315 shares, compared to its average volume of 1,903,294. The firm has a market cap of $2.54 billion, a PE ratio of 24.77 and a beta of 0.69. The stock has a fifty day moving average price of $22.04 and a 200 day moving average price of $18.47. MAG Silver has a fifty-two week low of $11.72 and a fifty-two week high of $24.55.

MAG Silver Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, September 1st. Shareholders of record on Tuesday, August 19th will be issued a $0.124 dividend. This represents a yield of 236.0%. The ex-dividend date is Monday, August 18th. MAG Silver's payout ratio is presently 33.80%.

Institutional Investors Weigh In On MAG Silver

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in shares of MAG Silver by 18.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 328,000 shares of the company's stock valued at $4,990,000 after acquiring an additional 50,000 shares in the last quarter. D.A. Davidson & CO. bought a new stake in shares of MAG Silver during the first quarter valued at approximately $167,000. Alps Advisors Inc. increased its holdings in shares of MAG Silver by 711.6% during the first quarter. Alps Advisors Inc. now owns 392,675 shares of the company's stock valued at $6,000,000 after acquiring an additional 344,290 shares in the last quarter. Ninepoint Partners LP bought a new stake in shares of MAG Silver during the first quarter valued at approximately $657,000. Finally, Two Sigma Investments LP bought a new stake in shares of MAG Silver during the fourth quarter valued at approximately $401,000. Institutional investors 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.