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

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

Analysts Set New Price Targets

Several research firms have commented on MAG. HC Wainwright increased 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, March 25th. Roth Mkm reduced their price target on MAG Silver from $16.50 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. TD Securities upgraded MAG Silver to a “strong-buy” rating in a research report on Monday, March 10th. Raymond James reaffirmed an “outperform” rating on shares of MAG Silver in a research note on Tuesday, March 25th. Finally, StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research report on Monday. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MAG. Quantbot Technologies LP purchased a new position in shares of MAG Silver in the 3rd quarter worth about $52,000. DF Dent & Co. Inc. purchased a new stake in MAG Silver in the third quarter worth approximately $140,000. Aigen Investment Management LP bought a new position in MAG Silver during the fourth quarter valued at approximately $156,000. D. E. Shaw & Co. Inc. purchased a new position in shares of MAG Silver during the fourth quarter worth approximately $156,000. Finally, Verition Fund Management LLC bought a new stake in shares of MAG Silver in the 3rd quarter worth approximately $168,000. 52.50% of the stock is currently owned by institutional investors.

MAG Silver Stock Performance

Shares of MAG Silver stock traded down $0.02 during trading on Thursday, hitting $15.45. The stock had a trading volume of 583,200 shares, compared to its average volume of 628,835. MAG Silver has a 12 month low of $11.29 and a 12 month high of $18.27. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 21.76 and a beta of 1.09. The company’s 50-day moving average price is $15.77.

MAG Silver Announces Dividend

The firm also recently declared a — dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, April 4th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, April 4th. This represents a dividend yield of 1.5%. MAG Silver’s dividend payout ratio (DPR) is presently 101.41%.

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.