Brokerages Set MAG Silver Corporation (NYSEAMERICAN:MAG) Target Price at $21.00

Shares of MAG Silver Corporation (NYSEAMERICAN:MAG) have received a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $21.00.

A number of brokerages have recently weighed in on MAG. Scotiabank reaffirmed an “outperform” rating on shares of MAG Silver in a research report on Tuesday, August 12th. Roth Capital restated a “neutral” rating and set a $23.00 price objective (up previously from $22.00) on shares of MAG Silver in a report on Tuesday, August 12th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $22.00 price objective on shares of MAG Silver in a research note on Thursday, July 24th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in shares of MAG Silver during the second quarter valued at approximately $28,000. Luminist Capital LLC purchased a new position in MAG Silver during the 2nd quarter worth $32,000. Banque Cantonale Vaudoise purchased a new position in MAG Silver during the 1st quarter worth $37,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of MAG Silver in the 2nd quarter worth $53,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in shares of MAG Silver in the second quarter valued at about $71,000. Institutional investors own 52.50% of the company’s stock.

MAG Silver Stock Performance

MAG stock opened at $24.47 on Thursday. The stock’s 50 day simple moving average is $23.13 and its 200 day simple moving average is $19.69. The company has a market cap of $2.54 billion, a P/E ratio of 24.72 and a beta of 0.73. MAG Silver has a fifty-two week low of $11.72 and a fifty-two week high of $25.09.

MAG Silver Announces Dividend

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

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.