Brokerages Set MAG Silver Corp. (NYSEAMERICAN:MAG) PT at $18.00

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eight research firms that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $18.00.

Several research firms have recently issued reports on MAG. Raymond James reissued an "outperform" rating on shares of MAG Silver in a research note on Tuesday, March 25th. HC Wainwright raised their target price on shares of MAG Silver from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, March 25th. Roth Capital set a $16.00 price target on shares of MAG Silver in a research note on Tuesday, March 25th. Roth Mkm decreased their price objective on shares of MAG Silver from $16.50 to $16.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. Finally, TD Securities raised MAG Silver to a "strong-buy" rating in a report on Monday, March 10th.

Institutional Investors Weigh In On MAG Silver

A number of large investors have recently made changes to their positions in MAG. CIBC Asset Management Inc grew its stake in MAG Silver by 0.7% during the 4th quarter. CIBC Asset Management Inc now owns 114,355 shares of the company's stock valued at $1,550,000 after acquiring an additional 755 shares in the last quarter. Swiss National Bank grew its holdings in shares of MAG Silver by 0.6% during the 4th quarter. Swiss National Bank now owns 193,900 shares of the company's stock valued at $2,633,000 after acquiring an additional 1,200 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of MAG Silver by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 50,088 shares of the company's stock worth $687,000 after acquiring an additional 1,245 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of MAG Silver by 5.1% during the fourth quarter. Bank of America Corp DE now owns 49,779 shares of the company's stock worth $677,000 after acquiring an additional 2,399 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in MAG Silver by 20.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 17,792 shares of the company's stock valued at $242,000 after purchasing an additional 3,029 shares during the last quarter. Institutional investors and hedge funds own 52.50% of the company's stock.

MAG Silver Trading Down 5.6 %

MAG traded down $0.93 on Thursday, hitting $15.70. 1,089,570 shares of the company's stock were exchanged, compared to its average volume of 628,689. The company's fifty day simple moving average is $15.70. MAG Silver has a twelve month low of $10.62 and a twelve month high of $18.27. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 22.11 and a beta of 1.09.

MAG Silver Dividend Announcement

The business also recently disclosed a -- dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, April 4th will be paid a dividend of $0.18 per share. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, April 4th.

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.