MAG Silver Corp. (TSE:MAG – Get Free Report) (NYSEAMERICAN:MAG) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$33.80 and traded as low as C$33.70. MAG Silver shares last traded at C$34.38, with a volume of 146,911 shares traded.
Analyst Upgrades and Downgrades
MAG has been the subject of several analyst reports. Cormark upped their target price on MAG Silver from C$25.10 to C$31.70 in a research report on Tuesday, August 12th. HC Wainwright downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, MAG Silver currently has a consensus rating of “Hold” and an average target price of C$27.19.
Get Our Latest Report on MAG Silver
MAG Silver Price Performance
MAG Silver Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Monday, September 1st were issued a $0.144 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $0.58 dividend on an annualized basis and a yield of 1.7%. MAG Silver’s dividend payout ratio is currently 38.38%.
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%).
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