MAG Silver (TSE:MAG) Hits New 12-Month High – What’s Next?

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$29.73 and last traded at C$29.70, with a volume of 59486 shares changing hands. The stock had previously closed at C$29.03.

Analyst Ratings Changes

Several analysts have commented on the stock. Raymond James raised their price objective on shares of MAG Silver from C$26.00 to C$27.00 in a report on Tuesday, March 25th. Canaccord Genuity Group lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Monday, May 12th. Finally, TD Securities lowered shares of MAG Silver from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, May 22nd.

MAG Silver Stock Performance

The firm has a market cap of C$2.16 billion, a PE ratio of 28.97, a PEG ratio of 0.84 and a beta of 1.14. The company has a current ratio of 32.55, a quick ratio of 25.31 and a debt-to-equity ratio of 0.01. The firm’s 50 day simple moving average is C$22.97 and its 200 day simple moving average is C$22.25.

MAG Silver Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 28th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.68%. This is an increase from MAG Silver’s previous quarterly dividend of $0.02. The ex-dividend date was Friday, May 16th.

MAG Silver Company Profile

MAG Silver Corp is a Canadian mining company. It is focused on becoming a top-tier primary silver mining company by exploring and advancing high-grade, district-scale, silver-dominant projects in the Americas. Its principal focus and asset are the Juanicipio Project (44%), being developed in a JV partnership with Fresnillo Plc (56%).