MAG Silver (NYSEAMERICAN:MAG) Given New $18.50 Price Target at Scotiabank

MAG Silver (NYSEAMERICAN:MAG) had its target price upped by Scotiabank from $18.00 to $18.50 in a research note published on Monday morning,Benzinga reports. The firm currently has a sector outperform rating on the stock.

MAG has been the subject of several other research reports. Roth Capital set a $16.00 price target on MAG Silver in a research note on Tuesday, March 25th. TD Securities upgraded shares of MAG Silver to a “strong-buy” rating in a research note on Monday, March 10th. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a report on Monday, March 31st. Raymond James restated an “outperform” rating on shares of MAG Silver in a report on Tuesday, March 25th. Finally, Roth Mkm lowered their price objective on MAG Silver from $16.50 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.60.

MAG Silver Trading Up 5.5 %

NYSEAMERICAN MAG opened at $15.82 on Monday. MAG Silver has a 1-year low of $11.29 and a 1-year high of $18.27. The firm’s fifty day simple moving average is $15.57 and its 200-day simple moving average is $15.20. The company has a market capitalization of $1.64 billion, a PE ratio of 22.28 and a beta of 1.09.

MAG Silver Announces Dividend

The business also recently announced a — dividend, which will be paid on Monday, April 21st. Investors of record on Friday, April 4th will be paid a $0.18 dividend. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, April 4th. MAG Silver’s payout ratio is presently 101.41%.

Institutional Investors Weigh In On MAG Silver

Institutional investors have recently bought and sold shares of the business. Swiss National Bank grew its position in MAG Silver by 0.6% in the fourth quarter. Swiss National Bank now owns 193,900 shares of the company’s stock valued at $2,633,000 after acquiring an additional 1,200 shares during the period. Barclays PLC boosted its position in MAG Silver by 211.5% in the 3rd quarter. Barclays PLC now owns 30,780 shares of the company’s stock valued at $432,000 after buying an additional 20,899 shares during the last quarter. Intact Investment Management Inc. increased its position in MAG Silver by 21.3% in the fourth quarter. Intact Investment Management Inc. now owns 307,433 shares of the company’s stock worth $4,176,000 after purchasing an additional 54,033 shares during the period. Raymond James Financial Inc. bought a new stake in MAG Silver during the 4th quarter worth about $3,482,000. Finally, Strategic Financial Concepts LLC acquired a new position in MAG Silver during the 4th quarter valued at about $240,000. 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.