MAG Silver (TSE:MAG) Share Price Passes Above 50 Day Moving Average - What's Next?

Key Points

• MAG Silver shares have recently traded above their 50-day moving average of C$30.74, reaching as high as C$34.98, indicating positive market momentum.
• Analysts have downgraded MAG Silver's rating from "strong-buy" to "hold" and "strong sell", resulting in an average rating of "Hold" with a consensus price target of C$27.19.
• The company announced a quarterly dividend, resulting in an annualized dividend of $0.58 and a yield of 1.7%, while maintaining a low debt-to-equity ratio of 0.01.

MAG Silver Corp. (TSE:MAG - Get Free Report) NYSEAMERICAN: MAG's share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of C$30.74 and traded as high as C$34.98. MAG Silver shares last traded at C$34.38, with a volume of 146,911 shares.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MAG. HC Wainwright lowered MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. TD Securities lowered MAG Silver from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, May 22nd. Canaccord Genuity Group lowered MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Finally, Cormark raised their target price on MAG Silver from C$25.10 to C$31.70 in a report on Tuesday, August 12th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, MAG Silver currently has an average rating of "Hold" and an average target price of C$27.19.

MAG Silver Stock Up 2.9%

The company has a market cap of C$3.56 billion, a PE ratio of 34.73, a P/E/G ratio of 0.84 and a beta of 1.12. The business has a 50-day simple moving average of C$30.85 and a 200-day simple moving average of C$26.31. 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 Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Monday, September 1st were given a dividend of $0.144 per share. The ex-dividend date was Monday, August 18th. This represents a $0.58 dividend on an annualized basis and a yield of 1.7%. MAG Silver's dividend payout ratio is currently 38.38%.

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%).