MAG Silver Corp. (NYSEAMERICAN:MAG) Given Average Rating of “Hold” by Brokerages

MAG Silver Corp. (NYSEAMERICAN:MAG) has received an average rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $18.13.

MAG has been the subject of several research analyst reports. TD Securities downgraded shares of MAG Silver from a “strong-buy” rating to a “strong sell” rating in a research note 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. Roth Capital set a $16.00 target price on MAG Silver in a research report on Tuesday, March 25th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of MAG Silver in a report on Thursday, April 24th. Finally, Raymond James reiterated an “outperform” rating on shares of MAG Silver in a report on Tuesday, March 25th.

MAG Silver Price Performance

MAG stock opened at $21.54 on Tuesday. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 30.34 and a beta of 1.09. The company has a 50 day simple moving average of $16.67 and a 200 day simple moving average of $15.82. MAG Silver has a 1 year low of $11.29 and a 1 year high of $21.83.

MAG Silver Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MAG. First Eagle Investment Management LLC lifted its stake in MAG Silver by 46.4% during the 4th quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company’s stock valued at $106,379,000 after acquiring an additional 2,486,538 shares in the last quarter. Millennium Management LLC lifted its position in shares of MAG Silver by 3,324.7% during the fourth quarter. Millennium Management LLC now owns 886,203 shares of the company’s stock valued at $12,052,000 after purchasing an additional 860,326 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in MAG Silver by 124.5% during the first quarter. Goldman Sachs Group Inc. now owns 805,198 shares of the company’s stock worth $12,303,000 after purchasing an additional 446,543 shares during the last quarter. Alps Advisors Inc. boosted its holdings in MAG Silver by 711.6% during the first quarter. Alps Advisors Inc. now owns 392,675 shares of the company’s stock worth $6,000,000 after purchasing an additional 344,290 shares during the last quarter. Finally, Monaco Asset Management SAM increased its stake in MAG Silver by 127.6% in the 1st quarter. Monaco Asset Management SAM now owns 526,000 shares of the company’s stock valued at $8,034,000 after buying an additional 294,878 shares during the last quarter. Hedge funds and other institutional investors 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.