MAG Silver (NYSEAMERICAN:MAG) Price Target Raised to $22.00

MAG Silver (NYSEAMERICAN:MAG) had its price objective lifted by HC Wainwright from $21.00 to $22.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for MAG Silver’s FY2025 earnings at $1.01 EPS.

Separately, TD Securities raised MAG Silver to a “strong-buy” rating in a report on Monday, March 10th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.00.

MAG Silver Stock Performance

Shares of NYSEAMERICAN MAG opened at $16.63 on Tuesday. MAG Silver has a 1 year low of $9.90 and a 1 year high of $18.27. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 23.42 and a beta of 1.09. The stock’s 50-day simple moving average is $15.67.

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 Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in MAG Silver in the third quarter valued at approximately $52,000. DF Dent & Co. Inc. acquired a new position in shares of MAG Silver during the 3rd quarter worth $140,000. Pekin Hardy Strauss Inc. bought a new stake in shares of MAG Silver during the 3rd quarter worth $140,000. D. E. Shaw & Co. Inc. acquired a new stake in MAG Silver in the fourth quarter valued at about $156,000. Finally, Aigen Investment Management LP bought a new position in MAG Silver in the fourth quarter valued at about $156,000. Institutional investors 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.