MAG Silver (TSE:MAG) Sets New 12-Month High on Analyst Upgrade

Key Points

• MAG Silver Corp. reached a new 52-week high of C$32.00 following an analyst upgrade from Cormark, raising the price target from C$25.10 to C$31.70.
• Despite the positive reaction to the upgrade, several brokerages have downgraded MAG Silver's rating to "hold" or "sell," resulting in an average rating of "Hold" with a price target of C$27.19.
• The company recently announced a quarterly dividend of $0.144 per share, indicating a dividend yield of 1.8%.

MAG Silver Corp. (TSE:MAG - Get Free Report) NYSEAMERICAN: MAG's share price reached a new 52-week high during mid-day trading on Wednesday after Cormark raised their price target on the stock from C$25.10 to C$31.70. The company traded as high as C$32.00 and last traded at C$31.99, with a volume of 168180 shares. The stock had previously closed at C$31.61.

Several other research firms have also recently weighed in on MAG. Canaccord Genuity Group cut MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. HC Wainwright downgraded shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Finally, TD Securities lowered shares of MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, MAG Silver has an average rating of "Hold" and an average target price of C$27.19.

MAG Silver Trading Up 0.8%

The business's 50-day moving average price is C$29.54 and its 200-day moving average price is C$25.11. The firm has a market capitalization of C$2.31 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 32.55 and a quick ratio of 25.31.

MAG Silver Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Monday, August 18th will be issued a $0.144 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, August 18th.

MAG Silver Company Profile

MAG Silver Corp is a Canadian mining company. It is focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district-scale, silver-dominant projects in the Americas. Its principal focus and asset are the Juanicipio Project (44%), being developed in a JV partnership with Fresnillo Plc (56%).