MAG Silver (TSE:MAG) Reaches New 52-Week High – Here’s Why

MAG Silver Corp. (TSE:MAG) (NYSEAMERICAN:MAG)’s share 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 traded. The stock had previously closed at C$29.03.

Analyst Upgrades and Downgrades

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

MAG Silver Stock Performance

The company has a market cap of C$2.10 billion, a PE ratio of 28.14, a P/E/G 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$23.27 and its two-hundred day simple moving average is C$22.35.

MAG Silver Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 28th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.76%. The ex-dividend date was Friday, May 16th. This is an increase from MAG Silver’s previous quarterly dividend of $0.02.

About MAG Silver

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%).