MAG Silver (NYSEAMERICAN:MAG) Stock Price Up 6.4% – Here’s What Happened

by · The Markets Daily

MAG Silver Corp. (NYSEAMERICAN:MAG – Get Free Report)’s stock price rose 6.4% during mid-day trading on Friday . The stock traded as high as $15.21 and last traded at $15.07. Approximately 199,974 shares were traded during trading, a decline of 70% from the average daily volume of 667,871 shares. The stock had previously closed at $14.16.

Analyst Ratings Changes

MAG has been the topic of a number of recent research reports. Roth Mkm lowered their target price on MAG Silver from $16.50 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 25th. TD Securities raised MAG Silver to a “strong-buy” rating in a research note on Monday, March 10th. Roth Capital set a $16.00 price objective on shares of MAG Silver in a research report on Tuesday, March 25th. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Monday, March 31st. Finally, HC Wainwright increased their price target on shares of MAG Silver from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 25th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Get Our Latest Research Report on MAG Silver

MAG Silver Stock Performance

The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 21.18 and a beta of 1.09. The business’s 50 day moving average is $15.55 and its 200-day moving average is $15.20.

MAG Silver Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Monday, April 21st. Investors of record on Friday, April 4th will be given 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%. MAG Silver’s dividend payout ratio is presently 101.41%.

Institutional Investors Weigh In On MAG Silver

Several hedge funds have recently modified their holdings of MAG. Swiss National Bank increased its stake in 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 acquiring an additional 1,200 shares during the period. Barclays PLC increased its position in shares of MAG Silver by 211.5% during the third 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 period. Intact Investment Management Inc. raised its stake in shares of MAG Silver by 21.3% in the fourth 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 in the last quarter. Raymond James Financial Inc. acquired a new position in shares of MAG Silver in the fourth quarter valued at $3,482,000. Finally, Strategic Financial Concepts LLC bought a new position in MAG Silver in the fourth quarter worth $240,000. 52.50% of the stock is owned by institutional investors.

MAG Silver Company Profile

(Get Free Report)

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.

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