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

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) have been assigned an average recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $18.13.

Several brokerages have recently weighed in on MAG. TD Securities cut shares of MAG Silver from a “buy” rating to a “sell” rating in a research note on Thursday. Canaccord Genuity Group downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Monday, May 12th. Raymond James reissued an “outperform” rating on shares of MAG Silver in a report on Tuesday, March 25th. Scotiabank reissued a “sector perform” rating on shares of MAG Silver in a report on Monday, April 14th. Finally, Roth Mkm cut their price objective on MAG Silver from $16.50 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th.

Institutional Investors Weigh In On MAG Silver

Hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank lifted its holdings in MAG Silver by 0.6% during the 4th quarter. Swiss National Bank now owns 193,900 shares of the company’s stock valued at $2,633,000 after purchasing an additional 1,200 shares during the last quarter. Barclays PLC lifted its holdings in MAG Silver by 211.5% during the 3rd quarter. Barclays PLC now owns 30,780 shares of the company’s stock valued at $432,000 after purchasing an additional 20,899 shares during the last quarter. Intact Investment Management Inc. lifted its holdings in MAG Silver by 21.3% during the 4th quarter. Intact Investment Management Inc. now owns 307,433 shares of the company’s stock valued at $4,176,000 after purchasing an additional 54,033 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of MAG Silver during the fourth quarter worth $3,482,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of MAG Silver during the fourth quarter worth $240,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Stock Down 0.9%

Shares of MAG opened at $18.46 on Friday. The stock has a market capitalization of $1.91 billion, a P/E ratio of 26.00 and a beta of 1.09. MAG Silver has a twelve month low of $11.29 and a twelve month high of $19.17. The company has a 50 day moving average of $15.79 and a 200-day moving average of $15.49.

MAG Silver Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th will be issued a $0.18 dividend. This represents a dividend yield of 0.5%. The ex-dividend date is Monday, May 19th. MAG Silver’s payout ratio is presently 101.41%.

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.