MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report) shares 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 trading hands.
The newly announced dividend which will be paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, May 19th. This represents a dividend yield of 0.5%. MAG Silver's dividend payout ratio (DPR) is currently 101.41%.
Analyst Upgrades and Downgrades
MAG has been the subject of a number of recent research reports. TD Securities raised MAG Silver to a "strong-buy" rating in a report on Monday, March 10th. Roth Mkm lowered their target price on MAG Silver from $16.50 to $16.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. Roth Capital set a $16.00 target price on MAG Silver in a report on Tuesday, March 25th. Canaccord Genuity Group cut MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Finally, Raymond James reaffirmed an "outperform" rating on shares of MAG Silver in a report on Tuesday, March 25th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $18.13.
View Our Latest Report on MAG
MAG Silver Trading Down 0.7%
The firm has a 50-day moving average of $15.61 and a 200 day moving average of $15.40. The company has a market cap of $1.84 billion, a P/E ratio of 25.13 and a beta of 1.09.
Institutional Investors Weigh In On MAG Silver
A number of hedge funds have recently added to or reduced their stakes in MAG. Goldman Sachs Group Inc. lifted its holdings in shares of MAG Silver by 124.5% in the first quarter. Goldman Sachs Group Inc. now owns 805,198 shares of the company's stock valued at $12,303,000 after purchasing an additional 446,543 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 acquiring an additional 258,379 shares during the period. Amundi lifted its holdings in MAG Silver by 39.8% during the first quarter. Amundi now owns 710,000 shares of the company's stock worth $10,771,000 after acquiring an additional 202,059 shares during the period. Cubist Systematic Strategies LLC bought a new stake in MAG Silver during the first quarter worth $1,264,000. Finally, Royal Bank of Canada lifted its holdings in MAG Silver by 8.6% during the first quarter. Royal Bank of Canada now owns 1,660,583 shares of the company's stock worth $25,374,000 after acquiring an additional 131,813 shares during the period. Institutional investors and hedge funds own 52.50% of the company's stock.
About MAG Silver
(
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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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