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

MAG Silver Corp. (TSE:MAG) (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%).