MAG Silver (NYSEAMERICAN:MAG) Price Target Lowered to $16.00 at Roth Mkm

MAG Silver (NYSEAMERICAN:MAG) had its price objective decreased by Roth Mkm from $16.50 to $16.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Roth Mkm currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on MAG. HC Wainwright upped their target price on MAG Silver from $21.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday. TD Securities raised shares of MAG Silver to a “strong-buy” rating in a report on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, MAG Silver presently has an average rating of “Moderate Buy” and an average price target of $18.00.

MAG Silver Price Performance

Shares of NYSEAMERICAN:MAG opened at $16.63 on Tuesday. The firm has a market capitalization of $1.72 billion, a P/E ratio of 23.42 and a beta of 1.09. The firm has a 50 day moving average price of $15.67. MAG Silver has a 52-week low of $9.90 and a 52-week high of $18.27.

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 given a $0.18 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a yield of 1.5%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in MAG Silver during the 3rd quarter worth approximately $52,000. DF Dent & Co. Inc. purchased a new position in shares of MAG Silver during the third quarter valued at $140,000. Pekin Hardy Strauss Inc. acquired a new position in MAG Silver during the third quarter valued at $140,000. Aigen Investment Management LP acquired a new position in MAG Silver during the fourth quarter valued at $156,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in MAG Silver in the 4th quarter worth about $156,000. 52.50% of the stock is currently owned by institutional investors and hedge funds.

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.