MAG Silver (TSE:MAG) Reaches New 12-Month High - Here's What Happened

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's stock price reached a new 52-week high during mid-day trading 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MAG shares. HC Wainwright lowered MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Canaccord Genuity Group lowered MAG Silver from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. Finally, TD Securities downgraded MAG Silver from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, May 22nd. One 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, the stock currently has an average rating of "Hold" and an average target price of C$26.43.

MAG Silver Stock Up 5.3%

The company has a 50-day moving average of C$28.98 and a two-hundred day moving average of C$24.70. The company has a market capitalization of C$2.28 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14. The company has a quick ratio of 25.31, a current ratio of 32.55 and a debt-to-equity ratio of 0.01.

MAG Silver Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 28th were paid a $0.20 dividend. This is an increase from MAG Silver's previous quarterly dividend of $0.02. This represents a $0.80 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, May 16th.

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%).

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