MAG Silver Corporation Plans Dividend of $0.12 (NYSEAMERICAN:MAG)

Key Points

• MAG Silver Corporation has declared a dividend of $0.12 per share, with stockholders of record set to receive it on September 1st, reflecting a remarkable dividend yield of 236.0%.
• The company has a payout ratio of 29.3%, indicating that the dividend is well supported by its earnings, with an expected future payout ratio of 33.8% based on predicted earnings.
• Despite recent analyst ratings ranging from "strong sell" to "outperform", the consensus rating for MAG Silver remains at "Hold" with a price target of $21.00.

MAG Silver Corporation (NYSEAMERICAN:MAG - Get Free Report) declared a dividend on Saturday, August 16th, investing.com reports. Stockholders of record on Tuesday, August 19th will be given a dividend of 0.124 per share on Monday, September 1st. This represents a dividend yield of 236.0%. The ex-dividend date is Monday, August 18th.

MAG Silver has a payout ratio of 29.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect MAG Silver to earn $0.71 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 33.8%.

MAG Silver Stock Performance

Shares of MAG stock opened at $23.06 on Friday. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 23.29 and a beta of 0.69. MAG Silver has a 52-week low of $11.72 and a 52-week high of $23.42. The firm's 50-day moving average is $21.61 and its 200-day moving average is $17.80.

Analyst Upgrades and Downgrades

MAG has been the topic of a number of analyst reports. TD Securities lowered shares of MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Scotiabank reaffirmed an "outperform" rating on shares of MAG Silver in a research note on Tuesday. Roth Capital reissued a "neutral" rating and set a $23.00 target price (up previously from $22.00) on shares of MAG Silver in a research note on Tuesday. HC Wainwright reissued a "neutral" rating and set a $22.00 target price on shares of MAG Silver in a research note on Thursday, July 24th. Finally, Canaccord Genuity Group downgraded shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, MAG Silver currently has a consensus rating of "Hold" and a consensus price target of $21.00.

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.

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