Analysts Set MAG Silver Corp. (NYSEAMERICAN:MAG) Price Target at $18.00

MAG Silver Corp. (NYSEAMERICAN:MAG) has earned an average rating of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $18.00.

A number of analysts recently commented on the stock. HC Wainwright upped their price target on shares of MAG Silver from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th. Raymond James restated an “outperform” rating on shares of MAG Silver in a research report on Tuesday. TD Securities upgraded MAG Silver to a “strong-buy” rating in a research note on Monday, March 10th. Roth Mkm cut their target price on 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, Roth Capital set a $16.00 target price on MAG Silver in a report on Tuesday.

MAG Silver Trading Down 5.6 %

MAG opened at $15.70 on Thursday. MAG Silver has a twelve month low of $10.62 and a twelve month high of $18.27. The company has a 50-day moving average of $15.70. The stock has a market capitalization of $1.62 billion, a PE ratio of 22.11 and a beta of 1.09.

MAG Silver Announces Dividend

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

Institutional Investors Weigh In On MAG Silver

A number of institutional investors and hedge funds have recently bought and sold shares of MAG. The Manufacturers Life Insurance Company lifted its stake in MAG Silver by 199.7% during the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after purchasing an additional 254,553 shares during the last quarter. Quantbot Technologies LP bought a new stake in MAG Silver in the 3rd quarter worth approximately $52,000. Verition Fund Management LLC purchased a new stake in MAG Silver in the third quarter worth approximately $168,000. National Bank of Canada FI grew its position in MAG Silver by 12.0% during the third quarter. National Bank of Canada FI now owns 225,802 shares of the company’s stock valued at $3,171,000 after acquiring an additional 24,185 shares during the last quarter. Finally, DF Dent & Co. Inc. purchased a new position in shares of MAG Silver during the third quarter worth approximately $140,000. 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.