MAG Silver Corp. (NYSEAMERICAN:MAG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $18.13.

A number of brokerages have issued reports on MAG. Roth Mkm cut their target price on shares of MAG Silver from $16.50 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. Roth Capital set a $16.00 price target on MAG Silver in a research report on Tuesday, March 25th. Scotiabank restated a “sector perform” rating on shares of MAG Silver in a research report on Monday, April 14th. Raymond James restated an “outperform” rating on shares of MAG Silver in a research note on Tuesday, March 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $22.00 target price on shares of MAG Silver in a research note on Thursday, April 24th.

Institutional Investors Weigh In On MAG Silver

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank boosted its stake in MAG Silver by 0.6% during the 4th quarter. Swiss National Bank now owns 193,900 shares of the company’s stock valued at $2,633,000 after purchasing an additional 1,200 shares in the last quarter. Barclays PLC boosted its stake in MAG Silver by 211.5% during the third quarter. Barclays PLC now owns 30,780 shares of the company’s stock valued at $432,000 after buying an additional 20,899 shares in the last quarter. Intact Investment Management Inc. boosted its stake in MAG Silver by 21.3% during the fourth quarter. Intact Investment Management Inc. now owns 307,433 shares of the company’s stock valued at $4,176,000 after buying an additional 54,033 shares in the last quarter. Raymond James Financial Inc. acquired a new position in MAG Silver during the fourth quarter worth about $3,482,000. Finally, Strategic Financial Concepts LLC bought a new stake in MAG Silver in the fourth quarter worth about $240,000. 52.50% of the stock is currently owned by institutional investors.

MAG Silver Stock Performance

MAG Silver stock opened at $17.97 on Friday. MAG Silver has a 1 year low of $11.29 and a 1 year high of $19.17. The firm’s 50-day moving average is $15.56 and its 200-day moving average is $15.38. The company has a market cap of $1.86 billion, a P/E ratio of 25.31 and a beta of 1.09.

MAG Silver Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 19th will be given a $0.18 dividend. This represents a yield of 0.5%. The ex-dividend date is Monday, May 19th. MAG Silver’s dividend payout ratio is currently 101.41%.

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.