MAG Silver Corporation (NYSEAMERICAN:MAG) Receives $21.00 Consensus Target Price from Brokerages

MAG Silver Corporation (NYSEAMERICAN:MAG) has received a consensus recommendation of “Hold” from the seven analysts that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $21.00.

Several equities research analysts recently issued reports on the stock. Roth Capital restated a “neutral” rating and issued a $23.00 target price (up previously from $22.00) on shares of MAG Silver in a report on Tuesday, August 12th. Scotiabank reaffirmed an “outperform” rating on shares of MAG Silver in a report on Tuesday, August 12th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $22.00 target price on shares of MAG Silver in a report on Thursday, July 24th.

MAG Silver Trading Down 1.2%

Shares of MAG stock opened at $24.47 on Monday. MAG Silver has a 12-month low of $11.72 and a 12-month high of $25.09. The firm’s 50 day moving average is $24.09 and its 200 day moving average is $20.57. The stock has a market capitalization of $2.54 billion, a P/E ratio of 24.72 and a beta of 0.73.

MAG Silver Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, September 1st. Shareholders of record on Tuesday, August 19th were issued a dividend of $0.124 per share. This represents a yield of 236.0%. The ex-dividend date of this dividend was Monday, August 18th. MAG Silver’s dividend payout ratio is currently 33.80%.

Institutional Trading of MAG Silver

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets purchased a new stake in MAG Silver during the second quarter valued at approximately $28,000. Luminist Capital LLC purchased a new stake in shares of MAG Silver in the second quarter worth $32,000. Banque Cantonale Vaudoise purchased a new stake in shares of MAG Silver in the first quarter worth $37,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of MAG Silver in the second quarter worth $53,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in shares of MAG Silver in the second quarter worth $71,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

About MAG Silver

MAG Silver Corp. develops and explores for precious metal properties in Canada. It explores for silver, gold, lead, copper, and zinc deposits. The company's flagship property is the 44% owned Juanicipio property located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp. is headquartered in Vancouver, Canada.