Scotiabank Issues Positive Forecast for MAG Silver (NYSEAMERICAN:MAG) Stock Price

MAG Silver (NYSEAMERICAN:MAG) had its price target boosted by Scotiabank from $18.00 to $18.50 in a research report report published on Monday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

Several other equities analysts have also recently weighed in on the company. HC Wainwright lifted their price objective on MAG Silver from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. Roth Capital set a $16.00 price objective on shares of MAG Silver in a research report on Tuesday, March 25th. Roth Mkm reduced their target price on shares of MAG Silver from $16.50 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Raymond James reiterated an “outperform” rating on shares of MAG Silver in a report on Tuesday, March 25th. Finally, TD Securities raised shares of MAG Silver to a “strong-buy” rating in a research note on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, MAG Silver presently has a consensus rating of “Moderate Buy” and an average target price of $18.60.

MAG Silver Stock Performance

Shares of NYSEAMERICAN MAG opened at $15.82 on Monday. MAG Silver has a 52-week low of $11.29 and a 52-week high of $18.27. The stock has a market cap of $1.64 billion, a P/E ratio of 22.28 and a beta of 1.09. The firm has a 50 day moving average price of $15.57 and a 200 day moving average price of $15.20.

MAG Silver Announces Dividend

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

Institutional Investors Weigh In On MAG Silver

Several hedge funds have recently added to or reduced their stakes in the business. Verition Fund Management LLC bought a new stake in MAG Silver in the 3rd quarter valued at $168,000. Public Employees Retirement System of Ohio bought a new position in shares of MAG Silver during the third quarter worth approximately $390,000. Barclays PLC raised its position in shares of MAG Silver by 211.5% in 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. Tidal Investments LLC grew its position in MAG Silver by 3.6% during the third quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock worth $39,453,000 after buying an additional 98,312 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in MAG Silver by 69.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock worth $6,407,000 after acquiring an additional 186,445 shares during the period. 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.