MAG Silver (NYSEAMERICAN:MAG) Shares Gap Up Following Dividend Announcement

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report) gapped up before the market opened on Monday after the company announced a dividend. The stock had previously closed at $16.92, but opened at $19.00. MAG Silver shares last traded at $18.20, with a volume of 2,385,915 shares.

The newly announced dividend which will be paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th will be issued a $0.18 dividend. This represents a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, May 19th. MAG Silver's dividend payout ratio is presently 101.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MAG shares. StockNews.com upgraded MAG Silver from a "sell" rating to a "hold" rating in a research report on Monday, March 31st. Canaccord Genuity Group cut MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Monday. TD Securities raised MAG Silver to a "strong-buy" rating in a research note on Monday, March 10th. Roth Capital set a $16.00 price target on MAG Silver in a report on Tuesday, March 25th. Finally, Scotiabank reiterated a "sector perform" rating on shares of MAG Silver in a research report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $18.60.

MAG Silver Price Performance

The company has a fifty day simple moving average of $15.49 and a 200-day simple moving average of $15.35. The company has a market cap of $1.86 billion, a P/E ratio of 25.31 and a beta of 1.09.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise bought a new position in MAG Silver in the first quarter valued at approximately $37,000. Northwest & Ethical Investments L.P. boosted its stake in MAG Silver by 39.3% in the first quarter. Northwest & Ethical Investments L.P. now owns 8,178 shares of the company's stock valued at $124,000 after acquiring an additional 2,308 shares during the last quarter. Aigen Investment Management LP bought a new position in MAG Silver in the fourth quarter valued at approximately $156,000. D. E. Shaw & Co. Inc. bought a new position in MAG Silver in the fourth quarter valued at approximately $156,000. Finally, D.A. Davidson & CO. bought a new position in shares of MAG Silver during the first quarter worth $167,000. Institutional investors and hedge funds own 52.50% of the company's stock.

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.