MAG Silver (NYSEAMERICAN:MAG) Shares Gap Down - What's Next?

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $18.63, but opened at $18.12. MAG Silver shares last traded at $18.20, with a volume of 246,693 shares.

Analysts Set New Price Targets

Several research analysts have issued reports on MAG shares. Canaccord Genuity Group cut shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. HC Wainwright reiterated a "buy" rating and issued a $22.00 target price on shares of MAG Silver in a report on Thursday, April 24th. Scotiabank restated a "sector perform" rating on shares of MAG Silver in a report on Monday, April 14th. Roth Capital set a $16.00 price objective on MAG Silver in a research report on Tuesday, March 25th. Finally, Wall Street Zen upgraded MAG Silver from a "sell" rating to a "hold" rating in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $18.13.

MAG Silver Stock Down 0.8%

The firm has a 50 day moving average price of $15.76 and a 200-day moving average price of $15.45. The stock has a market capitalization of $1.91 billion, a PE ratio of 26.04 and a beta of 1.09.

MAG Silver Announces Dividend

The company also recently declared a -- dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 19th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a yield of 0.5%. MAG Silver's dividend payout ratio is presently 101.41%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MAG. First Eagle Investment Management LLC boosted its stake in shares of MAG Silver by 46.4% in the fourth quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company's stock worth $106,379,000 after acquiring an additional 2,486,538 shares during the last quarter. Sprott Inc. boosted its stake in MAG Silver by 8.5% during the 4th quarter. Sprott Inc. now owns 2,649,507 shares of the company's stock worth $36,004,000 after purchasing an additional 208,252 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of MAG Silver by 11.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,455,720 shares of the company's stock worth $37,350,000 after buying an additional 258,379 shares in the last quarter. Royal Bank of Canada raised its position in shares of MAG Silver by 8.6% in the first quarter. Royal Bank of Canada now owns 1,660,583 shares of the company's stock valued at $25,374,000 after buying an additional 131,813 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in MAG Silver by 20.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,399,405 shares of the company's stock worth $21,290,000 after acquiring an additional 237,800 shares during the last quarter. 52.50% of the stock is owned by institutional investors and hedge funds.

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.

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