MAG Silver Corp. (NYSEAMERICAN:MAG) Short Interest Up 24.8% in May

MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 2,620,000 shares, an increase of 24.8% from the April 30th total of 2,100,000 shares. Currently, 2.8% of the company's stock are short sold. Based on an average daily trading volume, of 1,280,000 shares, the days-to-cover ratio is currently 2.0 days.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. TD Securities lowered MAG Silver from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, May 22nd. Raymond James reissued an "outperform" rating on shares of MAG Silver in a report on Tuesday, March 25th. Canaccord Genuity Group lowered MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. HC Wainwright reissued a "buy" rating and set a $22.00 price objective on shares of MAG Silver in a report on Thursday, April 24th. Finally, Scotiabank reissued a "sector perform" rating on shares of MAG Silver in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $18.13.

MAG Silver Price Performance

Shares of NYSEAMERICAN:MAG traded down $0.01 during trading on Friday, hitting $21.18. 2,821,877 shares of the company were exchanged, compared to its average volume of 1,135,961. The company has a market cap of $2.19 billion, a PE ratio of 29.83 and a beta of 1.09. The stock has a 50 day moving average of $16.55 and a 200 day moving average of $15.77. MAG Silver has a 52-week low of $11.29 and a 52-week high of $21.51.

MAG Silver Dividend Announcement

The firm also recently announced a -- dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were paid a $0.18 dividend. The ex-dividend date was Monday, May 19th. This represents a yield of 0.5%. MAG Silver's dividend payout ratio is currently 101.41%.

Hedge Funds Weigh In On MAG Silver

Institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank raised its position in MAG Silver by 0.6% during the fourth quarter. Swiss National Bank now owns 193,900 shares of the company's stock valued at $2,633,000 after purchasing an additional 1,200 shares in the last quarter. Intact Investment Management Inc. raised its position in MAG Silver by 21.3% during the fourth quarter. Intact Investment Management Inc. now owns 307,433 shares of the company's stock valued at $4,176,000 after purchasing an additional 54,033 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in MAG Silver during the fourth quarter valued at about $3,482,000. Strategic Financial Concepts LLC purchased a new stake in MAG Silver during the fourth quarter valued at about $240,000. Finally, Allspring Global Investments Holdings LLC raised its position in MAG Silver by 56.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 278,000 shares of the company's stock valued at $3,781,000 after purchasing an additional 100,500 shares in the last quarter. 52.50% of the stock is currently owned by institutional investors.

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.