MAG Silver Corp. (NYSEAMERICAN:MAG) Receives $18.00 Consensus Target Price from Brokerages

MAG Silver Corp. (NYSEAMERICAN:MAG) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $18.00.

Several equities analysts have weighed in on the company. Roth Capital set a $16.00 price target on MAG Silver in a research report on Tuesday, March 25th. Raymond James reissued an “outperform” rating on shares of MAG Silver in a research note on Tuesday, March 25th. HC Wainwright upped their target price on shares of MAG Silver from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. TD Securities upgraded shares of MAG Silver to a “strong-buy” rating in a report on Monday, March 10th. Finally, StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Monday.

MAG Silver Stock Down 2.7 %

MAG stock opened at $15.28 on Thursday. The firm has a 50 day simple moving average of $15.72. MAG Silver has a 12 month low of $10.62 and a 12 month high of $18.27. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 21.52 and a beta of 1.09.

MAG Silver Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, April 4th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a yield of 1.5%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC grew its holdings in MAG Silver by 46.4% in the 4th quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company’s stock worth $106,379,000 after buying an additional 2,486,538 shares in the last quarter. Millennium Management LLC grew its stake in shares of MAG Silver by 3,324.7% in the fourth quarter. Millennium Management LLC now owns 886,203 shares of the company’s stock worth $12,052,000 after purchasing an additional 860,326 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of MAG Silver during the fourth quarter valued at $3,482,000. The Manufacturers Life Insurance Company raised its stake in shares of MAG Silver by 199.7% during the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock valued at $5,374,000 after purchasing an additional 254,553 shares in the last quarter. Finally, Sprott Inc. lifted its holdings in MAG Silver by 8.5% in the fourth quarter. Sprott Inc. now owns 2,649,507 shares of the company’s stock worth $36,004,000 after purchasing an additional 208,252 shares during the period. Institutional investors and hedge funds own 52.50% of the company’s stock.

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.