MAG Silver Corp. (NYSEAMERICAN:MAG) Receives $18.00 Consensus PT from Brokerages

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $18.00.

A number of analysts have recently weighed in on MAG shares. HC Wainwright increased their price objective on MAG Silver from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th. TD Securities raised shares of MAG Silver to a “strong-buy” rating in a research report on Monday, March 10th. Roth Capital set a $16.00 price target on shares of MAG Silver in a report on Tuesday. Roth Mkm lowered their price objective 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. Finally, Raymond James reiterated an “outperform” rating on shares of MAG Silver in a report on Tuesday.

MAG Silver Stock Performance

NYSEAMERICAN MAG opened at $15.70 on Thursday. The firm has a 50-day moving average of $15.70. MAG Silver has a 1-year low of $10.62 and a 1-year high of $18.27. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 22.11 and a beta of 1.09.

MAG Silver Announces Dividend

The company also recently declared a — dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, April 4th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a dividend yield of 1.5%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc raised its stake in MAG Silver by 0.7% during the 4th quarter. CIBC Asset Management Inc now owns 114,355 shares of the company’s stock valued at $1,550,000 after purchasing an additional 755 shares during the period. Swiss National Bank raised its position in shares of MAG Silver by 0.6% during the fourth quarter. Swiss National Bank now owns 193,900 shares of the company’s stock valued at $2,633,000 after buying an additional 1,200 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of MAG Silver by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 50,088 shares of the company’s stock worth $687,000 after buying an additional 1,245 shares in the last quarter. Bank of America Corp DE boosted its position in shares of MAG Silver by 5.1% during the fourth quarter. Bank of America Corp DE now owns 49,779 shares of the company’s stock worth $677,000 after acquiring an additional 2,399 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in MAG Silver by 20.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 17,792 shares of the company’s stock valued at $242,000 after acquiring an additional 3,029 shares during the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.