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

MAG Silver Corporation (NYSEAMERICAN:MAG) has earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $21.00.

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

MAG Silver Stock Performance

Shares of NYSEAMERICAN:MAG opened at $24.47 on Monday. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 24.72 and a beta of 0.73. MAG Silver has a 1-year low of $11.72 and a 1-year high of $25.09. The company’s fifty day moving average is $24.14 and its two-hundred day moving average is $20.77.

MAG Silver Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, September 1st. Investors of record on Tuesday, August 19th were issued a $0.124 dividend. This represents a dividend yield of 236.0%. The ex-dividend date of this dividend was Monday, August 18th. MAG Silver’s dividend payout ratio (DPR) is 33.80%.

Institutional Trading of MAG Silver

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of MAG Silver by 19.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,929,391 shares of the company’s stock worth $62,109,000 after acquiring an additional 473,671 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of MAG Silver in the 2nd quarter worth about $57,534,000. Alpine Associates Management Inc. acquired a new stake in shares of MAG Silver in the 2nd quarter worth about $53,779,000. Royal Bank of Canada increased its holdings in shares of MAG Silver by 8.6% in the 1st quarter. Royal Bank of Canada now owns 1,660,583 shares of the company’s stock worth $25,374,000 after acquiring an additional 131,813 shares during the period. Finally, AQR Arbitrage LLC acquired a new position in MAG Silver during the 2nd quarter valued at about $30,553,000. 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.