MAG Silver Corporation (NYSEAMERICAN:MAG) Receives $21.00 Consensus Target Price from Brokerages

Shares of MAG Silver Corporation (NYSEAMERICAN:MAG) have been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $21.00.

A number of equities research analysts have issued reports on the company. Scotiabank restated an “outperform” rating on shares of MAG Silver in a research note on Tuesday, August 12th. Roth Capital reissued a “neutral” rating and issued 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 restated a “neutral” rating and set a $22.00 target price on shares of MAG Silver in a research report on Thursday, July 24th.

MAG Silver Price Performance

MAG stock opened at $24.47 on Friday. MAG Silver has a 1 year low of $11.72 and a 1 year high of $25.09. The company has a market cap of $2.54 billion, a P/E ratio of 24.72 and a beta of 0.73. The stock’s fifty day moving average price is $24.47 and its 200-day moving average price is $22.01.

MAG Silver Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, September 1st. Investors of record on Tuesday, August 19th were given 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%.

Institutional Trading of MAG Silver

Institutional investors and hedge funds have recently modified their holdings of the company. Balyasny Asset Management L.P. bought a new position in shares of MAG Silver in the second quarter worth about $57,534,000. Alpine Associates Management Inc. purchased a new position in MAG Silver in the 2nd quarter worth approximately $53,779,000. AQR Arbitrage LLC bought a new position in MAG Silver in the 2nd quarter worth approximately $30,553,000. Alliancebernstein L.P. grew its holdings in MAG Silver by 4,902.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,242,535 shares of the company’s stock valued at $26,255,000 after buying an additional 1,217,695 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in MAG Silver by 924.7% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,293,358 shares of the company’s stock valued at $27,329,000 after buying an additional 1,167,136 shares in the last quarter. 52.50% of the stock is currently owned by institutional investors.

MAG Silver Company Profile

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.