MAG Silver (NYSEAMERICAN:MAG) Sets New 12-Month High - Should You Buy?

Key Points

• MAG Silver Corporation's shares reached a new 52-week high of $24.00, with the stock trading at $23.98 and a volume of over 1.2 million shares.
• The company announced a dividend payout of $0.124 per share, resulting in an impressive yield of 236.0% for investors.
• Recent analyst ratings show a mixed sentiment, with two Buy ratings, four Hold ratings, and one Sell rating assigned to MAG Silver.

MAG Silver Corporation (NYSEAMERICAN:MAG - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The stock traded as high as $24.00 and last traded at $23.98, with a volume of 1229469 shares. The stock had previously closed at $23.59.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. HC Wainwright restated a "neutral" rating and issued a $22.00 target price on shares of MAG Silver in a report on Thursday, July 24th. 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. Roth Capital reaffirmed a "neutral" rating and set a $23.00 price objective (up previously from $22.00) on shares of MAG Silver in a report on Tuesday, August 12th. Scotiabank reissued an "outperform" rating on shares of MAG Silver in a report on Tuesday, August 12th. Finally, TD Securities cut shares of MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $21.00.

MAG Silver Stock Performance

The firm has a market cap of $2.54 billion, a PE ratio of 24.77 and a beta of 0.69. The stock's fifty day moving average price is $22.04 and its 200-day moving average price is $18.47.

MAG Silver Announces Dividend

The business also recently disclosed a dividend, which will be paid on Monday, September 1st. Investors of record on Tuesday, August 19th will be given a dividend of $0.124 per share. This represents a dividend yield of 236.0%. The ex-dividend date is Monday, August 18th. MAG Silver's payout ratio is currently 33.80%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted 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 worth $4,990,000 after purchasing an additional 50,000 shares during the last quarter. D.A. Davidson & CO. purchased a new position in MAG Silver during the first quarter worth about $167,000. Alps Advisors Inc. boosted its stake in MAG Silver by 711.6% in the 1st quarter. Alps Advisors Inc. now owns 392,675 shares of the company's stock worth $6,000,000 after buying an additional 344,290 shares during the last quarter. Ninepoint Partners LP purchased a new stake in MAG Silver in the 1st quarter valued at about $657,000. Finally, Two Sigma Investments LP purchased a new stake in MAG Silver in the 4th quarter valued at about $401,000. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

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.