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

MAG Silver Corp. (NYSEAMERICAN:MAG) was the recipient of a large decrease in short interest in 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. Approximately 2.0% of the company’s shares are short sold. Based on an average daily trading volume, of 598,500 shares, the days-to-cover ratio is presently 3.1 days.

Hedge Funds Weigh In On MAG Silver

A number of hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company lifted its position in MAG Silver by 199.7% during the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after purchasing an additional 254,553 shares during the period. Quantbot Technologies LP bought a new position in MAG Silver in the third quarter valued at approximately $52,000. Verition Fund Management LLC acquired a new position in MAG Silver during the third quarter valued at approximately $168,000. National Bank of Canada FI raised its holdings in shares of MAG Silver by 12.0% during the 3rd quarter. National Bank of Canada FI now owns 225,802 shares of the company’s stock worth $3,171,000 after buying an additional 24,185 shares in the last quarter. Finally, DF Dent & Co. Inc. acquired a new position in MAG Silver during the third quarter worth about $140,000. 52.50% of the stock is owned by institutional investors.

MAG Silver Stock Performance

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

MAG Silver Dividend Announcement

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

Wall Street Analyst Weigh In

MAG has been the subject of a number of analyst reports. Roth Capital set a $16.00 price objective on MAG Silver in a research note on Tuesday, March 25th. Roth Mkm cut their target price on shares of MAG Silver from $16.50 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a report on Monday. HC Wainwright raised their price objective on MAG Silver from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 25th. Finally, TD Securities upgraded MAG Silver to a “strong-buy” rating in a report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

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.