MAG Silver Corp. (NYSEAMERICAN:MAG) Short Interest Update

MAG Silver Corp. (NYSEAMERICAN:MAG) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 1,860,000 shares, a drop of 17.3% from the February 28th total of 2,250,000 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average trading volume of 598,500 shares, the days-to-cover ratio is currently 3.1 days.

MAG Silver Trading Up 0.7 %

MAG traded up $0.11 on Wednesday, hitting $15.47. 587,204 shares of the company were exchanged, compared to its average volume of 629,900. The company has a market cap of $1.60 billion, a P/E ratio of 21.79 and a beta of 1.09. MAG Silver has a 12 month low of $11.29 and a 12 month high of $18.27. The company has a fifty day moving average price of $15.75.

MAG Silver Dividend Announcement

The business also recently declared a — dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, April 4th will be issued a $0.18 dividend. The ex-dividend date is Friday, April 4th. This represents a yield of 1.5%. MAG Silver’s dividend payout ratio is currently 101.41%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on MAG shares. Raymond James reiterated an “outperform” rating on shares of MAG Silver in a research report on Tuesday, March 25th. Roth Mkm dropped their target price on shares of MAG Silver from $16.50 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. TD Securities upgraded shares of MAG Silver to a “strong-buy” rating in a research report on Monday, March 10th. HC Wainwright upped their price objective on shares of MAG Silver from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 25th. Finally, Roth Capital set a $16.00 price target on MAG Silver in a report on Tuesday, March 25th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Institutional Investors Weigh In On MAG Silver

Several hedge funds have recently bought and sold shares of MAG. PKO Investment Management Joint Stock Co bought a new stake in shares of MAG Silver in the fourth quarter valued at about $651,000. Integrated Advisors Network LLC raised its stake in MAG Silver by 38.7% in the 4th quarter. Integrated Advisors Network LLC now owns 61,250 shares of the company’s stock worth $833,000 after purchasing an additional 17,100 shares in the last quarter. Two Sigma Investments LP bought a new stake in MAG Silver in the 4th quarter valued at about $401,000. Millennium Management LLC grew its position in shares of MAG Silver by 3,324.7% during the 4th quarter. Millennium Management LLC now owns 886,203 shares of the company’s stock worth $12,052,000 after purchasing an additional 860,326 shares in the last quarter. Finally, Eschler Asset Management LLP increased its holdings in shares of MAG Silver by 83.3% during the fourth quarter. Eschler Asset Management LLP now owns 55,000 shares of the company’s stock worth $748,000 after purchasing an additional 25,000 shares during the period. 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.