Shares of MAG Silver Corp. (TSE:MAG – Get Free Report) (NYSEAMERICAN:MAG) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$34.31 and traded as high as C$34.98. MAG Silver shares last traded at C$34.38, with a volume of 146,911 shares changing hands.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on MAG. Cormark boosted their price target on MAG Silver from C$25.10 to C$31.70 in a research report on Tuesday, August 12th. HC Wainwright downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of C$27.38.
Read Our Latest Stock Report on MAG Silver
MAG Silver Trading Up 2.9%
MAG Silver Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Monday, September 1st were issued a dividend of $0.144 per share. This represents a $0.58 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, August 18th. MAG Silver’s payout ratio is presently 38.38%.
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%).
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