MAG Silver (TSE:MAG) Hits New 1-Year High - Still a Buy?

Key Points

• MAG Silver Corp. reached a new 52-week high of C$31.60 in mid-day trading, closing at C$31.51 with a volume of 165,158 shares.
• Following recent analyst ratings, MAG Silver has seen downgrades with one analyst issuing a sell rating and the stock currently holding an average rating of "Hold."
• The company has increased its quarterly dividend to $0.20, reflecting confidence in its financial performance and representing a dividend yield of 2.5%.

MAG Silver Corp. (TSE:MAG - Get Free Report) NYSEAMERICAN: MAG reached a new 52-week high on Thursday . The company traded as high as C$31.60 and last traded at C$31.51, with a volume of 165158 shares trading hands. The stock had previously closed at C$29.85.

Analysts Set New Price Targets

A number of analysts have issued reports on MAG shares. Canaccord Genuity Group downgraded MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. HC Wainwright lowered shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Finally, TD Securities cut shares of 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, three have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of C$26.43.

MAG Silver Price Performance

The business has a 50-day moving average price of C$29.22 and a 200 day moving average price of C$24.87. The stock has a market cap of C$2.29 billion, a PE ratio of 30.76, a PEG ratio of 0.84 and a beta of 1.14. The company has a current ratio of 32.55, a quick ratio of 25.31 and a debt-to-equity ratio of 0.01.

MAG Silver Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Monday, August 18th will be given a dividend of $0.144 per share. This represents a $0.58 annualized dividend and a yield of 1.8%.

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%).