MAG Silver (NYSEAMERICAN:MAG) Reaches New 52-Week High - Here's Why

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) hit a new 52-week high during trading on Wednesday . The stock traded as high as $24.00 and last traded at $23.98, with a volume of 1229469 shares traded. The stock had previously closed at $23.59.

Analyst Ratings Changes

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

MAG Silver Trading Up 2.3%

The stock has a market capitalization of $2.54 billion, a PE ratio of 24.77 and a beta of 0.72. The business's 50 day moving average is $22.04 and its 200 day moving average is $18.52.

MAG Silver Announces Dividend

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

Hedge Funds Weigh In On MAG Silver

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rathbones Group PLC lifted its holdings in shares of MAG Silver by 4.8% during the first quarter. Rathbones Group PLC now owns 16,957 shares of the company's stock worth $259,000 after purchasing an additional 770 shares during the period. D.A. Davidson & CO. grew its stake in MAG Silver by 9.2% during the 2nd quarter. D.A. Davidson & CO. now owns 11,900 shares of the company's stock valued at $251,000 after acquiring an additional 1,000 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of MAG Silver in the 2nd quarter worth $28,000. Veracity Capital LLC raised its position in shares of MAG Silver by 8.1% during the 1st quarter. Veracity Capital LLC now owns 18,611 shares of the company's stock valued at $284,000 after buying an additional 1,401 shares during the period. Finally, Luminist Capital LLC purchased a new stake in MAG Silver in the 2nd quarter valued at about $32,000. 52.50% of the stock is owned by hedge funds and other 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.