MAG Silver (NYSEAMERICAN:MAG) Reaches New 52-Week High - Time to Buy?

Key Points

• MAG Silver Corporation reached a new 52-week high of $25.02 during mid-day trading, with the last trading price at $24.76 and a trading volume of over 1.2 million shares.
• Recent analyst ratings have varied, with TD Securities downgrading MAG Silver to a "strong sell" while Scotiabank maintained an "outperform" rating, resulting in an average rating of "Hold" and a consensus price target of $21.00.
• The company announced a dividend of $0.124, representing a yield of 236.0%, with a payout ratio of 33.80%, further reflecting the company's financial strategies.

MAG Silver Corporation (NYSEAMERICAN:MAG - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $25.02 and last traded at $24.76, with a volume of 1203368 shares changing hands. The stock had previously closed at $24.52.

Analyst Upgrades and Downgrades

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

MAG Silver Stock Performance

The company has a market cap of $2.54 billion, a price-to-earnings ratio of 24.72 and a beta of 0.73. The company has a fifty day moving average of $22.37 and a two-hundred day moving average of $18.82.

MAG Silver Announces Dividend

The business also recently declared a dividend, which was paid on Monday, September 1st. Stockholders of record on Tuesday, August 19th were paid a $0.124 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 236.0%. MAG Silver's dividend payout ratio is presently 33.80%.

Institutional Trading of MAG Silver

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new position in MAG Silver during the 2nd quarter worth approximately $28,000. Luminist Capital LLC acquired a new stake in shares of MAG Silver during the second quarter worth $32,000. Banque Cantonale Vaudoise bought a new position in MAG Silver during the first quarter worth $37,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in MAG Silver in the second quarter valued at $53,000. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in MAG Silver during the second quarter valued at $71,000. 52.50% of the stock is currently 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.