MAG Silver (TSE:MAG) Hits New 12-Month High Following Analyst Upgrade

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG) shares hit a new 52-week high during mid-day trading on Wednesday after Cormark raised their price target on the stock from C$25.10 to C$31.70. The stock traded as high as C$32.00 and last traded at C$31.99, with a volume of 168180 shares. The stock had previously closed at C$31.61.

Several other research analysts have also recently weighed in on the stock. TD Securities cut shares of MAG Silver from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, May 22nd. Canaccord Genuity Group cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 12th. Finally, HC Wainwright cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of C$27.19.

MAG Silver Price Performance

The stock’s 50 day moving average is C$29.48 and its two-hundred day moving average is C$25.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 32.55 and a quick ratio of 25.31. The stock has a market capitalization of C$2.30 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14.

MAG Silver Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Monday, September 1st will be paid a $0.144 dividend. This represents a $0.58 annualized dividend and a yield of 1.8%. The ex-dividend date is Monday, August 18th.

MAG Silver Company Profile

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%).