MAG Silver (TSE:MAG) Stock Price Passes Above 50 Day Moving Average - Here's Why

Key Points

• MAG Silver stock recently traded above its 50-day moving average of C$29.74, reaching a high of C$31.77, indicating a potential upward trend in market sentiment.
• Equities analysts have predominantly downgraded MAG Silver's rating, with recommendations ranging from Buy to Sell, resulting in a consensus rating of "Hold" and a price target of C$27.19.
• The company declared a quarterly dividend of $0.144 per share, reflecting an annual yield of 1.8%, despite facing fluctuations in analyst ratings.

MAG Silver Corp. (TSE:MAG - Get Free Report) NYSEAMERICAN: MAG passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$29.74 and traded as high as C$31.77. MAG Silver shares last traded at C$31.75, with a volume of 130,492 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. TD Securities downgraded MAG Silver from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, May 22nd. HC Wainwright downgraded MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Canaccord Genuity Group downgraded MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Finally, Cormark increased their price objective on MAG Silver from C$25.10 to C$31.70 in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of C$27.19.

MAG Silver Stock Up 1.9%

The firm has a fifty day simple moving average of C$29.74 and a 200-day simple moving average of C$25.37. The firm has a market cap of C$2.30 billion, a price-to-earnings ratio of 30.85, a P/E/G ratio of 0.84 and a beta of 1.14. The company has a debt-to-equity ratio of 0.01, a quick ratio of 25.31 and a current ratio of 32.55.

MAG Silver Cuts Dividend

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

About MAG Silver

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%).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.