MAG Silver (TSE:MAG) Sets New 52-Week High - What's Next?

MAG Silver Corp. (TSE:MAG - Get Free Report) NYSEAMERICAN: MAG reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$26.60 and last traded at C$25.32, with a volume of 448445 shares traded. The stock had previously closed at C$23.58.

Wall Street Analysts Forecast Growth

MAG has been the subject of several research analyst reports. Raymond James boosted their price objective on shares of MAG Silver from C$26.00 to C$27.00 in a research report on Tuesday, March 25th. TD Securities upgraded shares of MAG Silver to a "strong-buy" rating in a research report on Monday, March 10th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MAG Silver has an average rating of "Moderate Buy" and an average target price of C$26.09.

MAG Silver Trading Up 6.4%

The stock's 50 day moving average is C$21.60 and its 200-day moving average is C$21.79. The company has a current ratio of 32.55, a quick ratio of 25.31 and a debt-to-equity ratio of 0.01. The company has a market cap of C$1.82 billion, a P/E ratio of 24.38, a PEG ratio of 0.84 and a beta of 1.14.

MAG Silver Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, May 19th. This represents a $0.80 annualized dividend and a dividend yield of 3.19%. This is a positive change from MAG Silver's previous quarterly dividend of $0.02.

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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