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

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

Hedge Funds Weigh In On MAG Silver

Institutional investors and hedge funds have recently made changes to their positions in the stock. Swiss National Bank grew its holdings in MAG Silver by 0.6% during the 4th quarter. Swiss National Bank now owns 193,900 shares of the company's stock worth $2,633,000 after acquiring an additional 1,200 shares in the last quarter. Intact Investment Management Inc. grew its stake in shares of MAG Silver by 21.3% during the fourth quarter. Intact Investment Management Inc. now owns 307,433 shares of the company's stock worth $4,176,000 after purchasing an additional 54,033 shares in the last quarter. Raymond James Financial Inc. purchased a new position in MAG Silver in the fourth quarter valued at $3,482,000. Strategic Financial Concepts LLC acquired a new stake in MAG Silver in the fourth quarter valued at $240,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in MAG Silver by 56.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 278,000 shares of the company's stock worth $3,781,000 after buying an additional 100,500 shares during the last quarter. 52.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MAG. TD Securities downgraded 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 research report on Tuesday, March 25th. Roth Mkm lowered their price target 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. Roth Capital set a $16.00 price target on shares of MAG Silver in a research note on Tuesday, March 25th. Finally, HC Wainwright reiterated a "buy" rating and set a $22.00 price objective on shares of MAG Silver in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $18.13.

MAG Silver Stock Up 5.2%

NYSEAMERICAN MAG traded up $1.04 during trading on Thursday, hitting $21.19. The stock had a trading volume of 5,547,488 shares, compared to its average volume of 1,112,357. MAG Silver has a twelve month low of $11.29 and a twelve month high of $21.41. The company has a market capitalization of $2.19 billion, a PE ratio of 29.85 and a beta of 1.09. The firm has a 50 day moving average price of $16.32 and a 200 day moving average price of $15.69.

MAG Silver Dividend Announcement

The business also recently disclosed a -- dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were paid a $0.18 dividend. This represents a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, May 19th. MAG Silver's payout ratio 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.