MAG Silver Corp. (NYSEAMERICAN:MAG) Short Interest Down 17.3% in March

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

MAG Silver Stock Performance

Shares of NYSEAMERICAN:MAG traded up $0.08 during midday trading on Tuesday, reaching $15.36. The company had a trading volume of 588,375 shares, compared to its average volume of 630,492. MAG Silver has a 1-year low of $10.92 and a 1-year high of $18.27. The firm has a market capitalization of $1.59 billion, a PE ratio of 21.63 and a beta of 1.09. The company’s 50 day moving average is $15.72.

MAG Silver Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Roth Capital set a $16.00 target price on shares of MAG Silver in a research report on Tuesday, March 25th. Raymond James reaffirmed an “outperform” rating on shares of MAG Silver in a report on Tuesday, March 25th. HC Wainwright boosted their target price on MAG Silver from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, March 25th. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a report on Monday. Finally, TD Securities raised MAG Silver to a “strong-buy” rating in a research note on Monday, March 10th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Institutional Investors Weigh In On MAG Silver

Large investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC increased its holdings in shares of MAG Silver by 46.4% during the fourth quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company’s stock worth $106,379,000 after purchasing an additional 2,486,538 shares during the period. Millennium Management LLC increased its stake in 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 acquiring an additional 860,326 shares during the period. Raymond James Financial Inc. acquired a new position in MAG Silver in the 4th quarter valued at $3,482,000. The Manufacturers Life Insurance Company lifted its position in shares of MAG Silver by 199.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock valued at $5,374,000 after acquiring an additional 254,553 shares during the period. Finally, Sprott Inc. grew its holdings in shares of MAG Silver by 8.5% during the 4th quarter. Sprott Inc. now owns 2,649,507 shares of the company’s stock worth $36,004,000 after purchasing an additional 208,252 shares in the last quarter. Institutional investors own 52.50% of the company’s stock.

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.