MAG Silver (NYSEAMERICAN:MAG) Reaches New 12-Month High - Still a Buy?

Key Points

• MAG Silver Corporation shares recently reached a new 52-week high of $22.89, with a closing price of $22.72 after trading 381,485 shares.
• The company announced a $0.18 dividend, yielding 50.0%, which was paid to investors of record on May 19th.
• Currently, MAG Silver holds a "Hold" rating from analysts, with the stock having a consensus price target of $19.38.

MAG Silver Corporation (NYSEAMERICAN:MAG - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $22.89 and last traded at $22.72, with a volume of 381485 shares trading hands. The stock had previously closed at $21.68.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Roth Capital increased their price target on MAG Silver from $18.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Scotiabank reissued a "sector perform" rating on shares of MAG Silver in a report on Monday, April 14th. Canaccord Genuity Group lowered shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. 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, TD Securities lowered MAG Silver from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.38.

MAG Silver Stock Performance

The business's fifty day moving average price is $21.35 and its two-hundred day moving average price is $17.50. The firm has a market capitalization of $2.37 billion, a P/E ratio of 26.05 and a beta of 0.69.

Hedge Funds Weigh In On MAG Silver

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in shares of MAG Silver by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 50,088 shares of the company's stock worth $687,000 after acquiring an additional 1,245 shares during the period. Raymond James Financial Inc. acquired a new stake in MAG Silver in the 4th quarter valued at $3,482,000. Rossby Financial LCC purchased a new stake in shares of MAG Silver during the fourth quarter worth about $326,000. Marshall Wace LLP acquired a new position in MAG Silver in the fourth quarter worth about $274,000. Finally, Tradition Wealth Management LLC acquired a new position in shares of MAG Silver in the 4th quarter valued at about $222,000. Hedge funds and other 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.