MAG Silver Corporation (NYSEAMERICAN:MAG) Receives Consensus Rating of “Hold” from Brokerages

Shares of MAG Silver Corporation (NYSEAMERICAN:MAG) have earned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $21.00.

Several equities analysts have recently issued reports on the company. Roth Capital reiterated a “neutral” rating and set a $23.00 price target (up from $22.00) on shares of MAG Silver in a research report on Tuesday, August 12th. Scotiabank reaffirmed an “outperform” rating on shares of MAG Silver in a research report on Tuesday, August 12th. HC Wainwright reiterated a “neutral” rating and issued a $22.00 price target on shares of MAG Silver in a research report on Thursday, July 24th. Finally, TD Securities lowered shares of MAG Silver from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, May 22nd.

MAG Silver Trading Down 1.2%

Shares of NYSEAMERICAN:MAG opened at $24.47 on Thursday. The company has a 50 day moving average of $22.87 and a 200-day moving average of $19.32. The firm has a market cap of $2.54 billion, a P/E ratio of 24.72 and a beta of 0.73. MAG Silver has a twelve month low of $11.72 and a twelve month high of $25.09.

MAG Silver Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, September 1st. Shareholders of record on Tuesday, August 19th were paid a dividend of $0.124 per share. This represents a yield of 236.0%. The ex-dividend date of this dividend was Monday, August 18th. MAG Silver’s payout ratio is 33.80%.

Institutional Investors Weigh In On MAG Silver

A number of institutional investors have recently bought and sold shares of MAG. Bank of America Corp DE increased its holdings in shares of MAG Silver by 5.1% in the 4th quarter. Bank of America Corp DE now owns 49,779 shares of the company’s stock valued at $677,000 after purchasing an additional 2,399 shares during the period. D. E. Shaw & Co. Inc. acquired a new position in shares of MAG Silver in the fourth quarter worth $156,000. Millennium Management LLC raised its stake in shares of MAG Silver by 3,324.7% during the 4th quarter. Millennium Management LLC now owns 886,203 shares of the company’s stock worth $12,052,000 after purchasing an additional 860,326 shares in the last quarter. Two Sigma Investments LP bought a new position in MAG Silver during the fourth quarter valued at approximately $401,000. Finally, Integrated Advisors Network LLC lifted its stake in MAG Silver by 38.7% in the fourth quarter. Integrated Advisors Network LLC now owns 61,250 shares of the company’s stock valued at $833,000 after acquiring an additional 17,100 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors and hedge funds.

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.