MAG Silver (NYSEAMERICAN:MAG) Stock Price Up 5.3% - Still a Buy?

MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report) shares were up 5.3% during mid-day trading on Thursday . The stock traded as high as $21.24 and last traded at $21.22. Approximately 1,103,130 shares changed hands during trading, an increase of 3% from the average daily volume of 1,073,466 shares. The stock had previously closed at $20.15.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MAG shares. 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. Scotiabank reiterated a "sector perform" rating on shares of MAG Silver in a report on Monday, April 14th. Wall Street Zen raised MAG Silver from a "sell" rating to a "hold" rating in a research report on Monday, March 31st. Roth Mkm reduced their target price on MAG Silver from $16.50 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, March 25th. Finally, Canaccord Genuity Group lowered MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $18.13.

MAG Silver Stock Down 0.0%

The company has a market cap of $2.19 billion, a price-to-earnings ratio of 29.83 and a beta of 1.09. The stock has a 50 day simple moving average of $16.44 and a 200 day simple moving average of $15.74.

MAG Silver Dividend Announcement

The business also recently announced a -- dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were given a $0.18 dividend. This represents a dividend yield of 0.5%. The ex-dividend date was Monday, May 19th. MAG Silver's payout ratio is currently 101.41%.

Institutional Investors Weigh In On MAG Silver

Institutional investors have recently modified their holdings of the business. First Eagle Investment Management LLC boosted its stake in MAG Silver by 46.4% during the 4th quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company's stock valued at $106,379,000 after purchasing an additional 2,486,538 shares during the period. Millennium Management LLC lifted its stake in shares of MAG Silver by 3,324.7% in the 4th quarter. Millennium Management LLC now owns 886,203 shares of the company's stock worth $12,052,000 after acquiring an additional 860,326 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of MAG Silver by 124.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 805,198 shares of the company's stock worth $12,303,000 after acquiring an additional 446,543 shares during the period. Alps Advisors Inc. lifted its stake in shares of MAG Silver by 711.6% in the 1st quarter. Alps Advisors Inc. now owns 392,675 shares of the company's stock worth $6,000,000 after acquiring an additional 344,290 shares during the period. Finally, Monaco Asset Management SAM lifted its stake in shares of MAG Silver by 127.6% in the 1st quarter. Monaco Asset Management SAM now owns 526,000 shares of the company's stock worth $8,034,000 after acquiring an additional 294,878 shares during the period. Institutional investors own 52.50% of the company's stock.

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.