MAG Silver (NYSEAMERICAN:MAG) Shares Gap Up - Time to Buy?

MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $15.77, but opened at $16.36. MAG Silver shares last traded at $16.07, with a volume of 187,411 shares changing hands.

Wall Street Analysts Forecast Growth

MAG has been the topic of a number of recent research reports. TD Securities upgraded shares of MAG Silver to a "strong-buy" rating in a research note on Monday, March 10th. HC Wainwright increased their target price on shares of MAG Silver from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, March 25th. Roth Mkm decreased their price target on shares of MAG Silver from $16.50 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. Raymond James reiterated an "outperform" rating on shares of MAG Silver in a research note on Tuesday, March 25th. Finally, StockNews.com raised MAG Silver from a "sell" rating to a "hold" rating in a research note on Monday, March 31st. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, MAG Silver presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.60.

MAG Silver Stock Performance

The firm has a market capitalization of $1.60 billion, a PE ratio of 21.86 and a beta of 1.09. The company's 50-day moving average price is $15.54 and its 200-day moving average price is $15.23.

MAG Silver Announces Dividend

The firm also recently disclosed a -- dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, April 4th will be issued a $0.18 dividend. The ex-dividend date is Friday, April 4th. This represents a dividend yield of 1.5%. MAG Silver's payout ratio is currently 101.41%.

Hedge Funds Weigh In On MAG Silver

Several hedge funds have recently added to or reduced their stakes in MAG. D. E. Shaw & Co. Inc. purchased a new stake in shares of MAG Silver during the 4th quarter worth approximately $156,000. Aigen Investment Management LP purchased a new stake in MAG Silver in the fourth quarter valued at $156,000. Susquehanna Fundamental Investments LLC purchased a new stake in MAG Silver in the fourth quarter valued at $188,000. Tradition Wealth Management LLC purchased a new position in shares of MAG Silver during the fourth quarter worth about $222,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of MAG Silver during the fourth quarter worth about $240,000. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

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.