MAG Silver Corp. (NYSEAMERICAN:MAG) Short Interest Down 38.9% in May

MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report) saw a significant decline in short interest in the month of May. As of May 31st, there was short interest totalling 1,600,000 shares, a decline of 38.9% from the May 15th total of 2,620,000 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average trading volume of 1,540,000 shares, the short-interest ratio is presently 1.0 days.

Institutional Trading of MAG Silver

Several hedge funds and other institutional investors have recently modified their holdings of MAG. Banque Cantonale Vaudoise acquired a new position in shares of MAG Silver in the 1st quarter valued at $37,000. Northwest & Ethical Investments L.P. grew its holdings in MAG Silver by 39.3% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,178 shares of the company's stock worth $124,000 after acquiring an additional 2,308 shares during the last quarter. Aigen Investment Management LP bought a new stake in MAG Silver during the 4th quarter worth about $156,000. D. E. Shaw & Co. Inc. bought a new stake in MAG Silver during the 4th quarter worth about $156,000. Finally, D.A. Davidson & CO. bought a new position in shares of MAG Silver in the 1st quarter valued at about $167,000. Institutional investors and hedge funds own 52.50% of the company's stock.

MAG Silver Stock Performance

Shares of NYSEAMERICAN MAG traded up $0.17 during midday trading on Tuesday, reaching $21.63. 2,267,859 shares of the company's stock were exchanged, compared to its average volume of 1,192,216. MAG Silver has a 52-week low of $11.29 and a 52-week high of $21.83. The stock has a market capitalization of $2.24 billion, a PE ratio of 30.47 and a beta of 1.09. The business's fifty day moving average price is $17.47 and its two-hundred day moving average price is $16.06.

MAG Silver Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MAG shares. Raymond James reaffirmed an "outperform" rating on shares of MAG Silver in a research note on Tuesday, March 25th. Canaccord Genuity Group downgraded MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Scotiabank restated a "sector perform" rating on shares of MAG Silver in a research note 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. Finally, Roth Mkm decreased their price objective on MAG Silver from $16.50 to $16.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $18.13.

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.