MAG Silver Corporation (NYSEAMERICAN:MAG) Short Interest Up 85.7% in August

Key Points

• MAG Silver Corporation saw a significant increase in short interest of 85.7% in August, totaling 3,120,000 shares, representing approximately 3.1% of its total stock.
• The company recently announced a $0.124 dividend paid on September 1st, yielding 236.0% with a dividend payout ratio of 33.80%.
• Wall Street analysts have mixed ratings on MAG Silver, with a consensus rating of "Hold" and an average price target of $21.00.

MAG Silver Corporation (NYSEAMERICAN:MAG - Get Free Report) was the target of a large increase in short interest in August. As of August 15th, there was short interest totaling 3,120,000 shares, anincreaseof85.7% from the July 31st total of 1,680,000 shares. Approximately3.1% of the company's stock are short sold. Based on an average daily volume of 1,770,000 shares, the short-interest ratio is currently 1.8 days. Based on an average daily volume of 1,770,000 shares, the short-interest ratio is currently 1.8 days. Approximately3.1% of the company's stock are short sold.

Hedge Funds Weigh In On MAG Silver

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets acquired a new position in MAG Silver during the 2nd quarter valued at about $28,000. Luminist Capital LLC acquired a new position in MAG Silver during the 2nd quarter valued at about $32,000. Banque Cantonale Vaudoise acquired a new position in MAG Silver during the 1st quarter valued at about $37,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in MAG Silver during the 2nd quarter valued at about $53,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in MAG Silver during the 2nd quarter valued at about $71,000. Institutional investors and hedge funds own 52.50% of the company's stock.

MAG Silver Price Performance

Shares of MAG stock traded down $0.29 during trading hours on Friday, reaching $24.47. The stock had a trading volume of 2,177,252 shares, compared to its average volume of 1,906,338. MAG Silver has a twelve month low of $11.72 and a twelve month high of $25.09. The firm has a 50-day simple moving average of $22.37 and a 200-day simple moving average of $18.82. The firm has a market capitalization of $2.54 billion, a PE ratio of 24.72 and a beta of 0.73.

MAG Silver Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, September 1st. Investors of record on Tuesday, August 19th were issued a $0.124 dividend. This represents a dividend yield of 236.0%. The ex-dividend date of this dividend was Monday, August 18th. MAG Silver's dividend payout ratio (DPR) is 33.80%.

Wall Street Analysts Forecast Growth

MAG has been the topic of a number of research analyst reports. Roth Capital reiterated a "neutral" rating and set a $23.00 price objective (up from $22.00) on shares of MAG Silver in a research note on Tuesday, August 12th. TD Securities downgraded shares of MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, May 22nd. HC Wainwright reiterated a "neutral" rating and set a $22.00 price objective on shares of MAG Silver in a research note on Thursday, July 24th. Scotiabank reiterated an "outperform" rating on shares of MAG Silver in a research note on Tuesday, August 12th. Finally, Canaccord Genuity Group downgraded shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $21.00.

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.

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