MAG Silver Corporation (NYSEAMERICAN:MAG) Short Interest Update

MAG Silver Corporation (NYSEAMERICAN:MAG - Get Free Report) saw a significant decline in short interest during 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. Based on an average daily trading volume, of 1,540,000 shares, the short-interest ratio is currently 1.0 days. Currently, 1.6% of the company's stock are sold short.

MAG Silver Stock Down 1.0%

MAG stock traded down $0.22 during midday trading on Thursday, hitting $21.41. The company's stock had a trading volume of 1,426,127 shares, compared to its average volume of 1,917,073. The stock's 50-day moving average price is $17.92 and its 200 day moving average price is $16.17. MAG Silver has a 1 year low of $11.29 and a 1 year high of $21.83. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 24.33 and a beta of 0.73.

MAG Silver Dividend Announcement

The company also recently declared a -- dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were given a dividend of $0.18 per share. The ex-dividend date was Monday, May 19th. This represents a dividend yield of 0.5%. MAG Silver's dividend payout ratio is presently 33.80%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. HC Wainwright reaffirmed a "buy" rating and set a $22.00 target price on shares of MAG Silver in a research report on Thursday, April 24th. Raymond James Financial reaffirmed an "outperform" rating on shares of MAG Silver in a research report on Tuesday, March 25th. Scotiabank reaffirmed a "sector perform" rating on shares of MAG Silver in a research report on Monday, April 14th. Roth Capital set a $16.00 target price on MAG Silver in a research report on Tuesday, March 25th. Finally, TD Securities cut MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $18.13.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Swiss National Bank raised its stake in shares of MAG Silver by 0.6% during the 4th quarter. Swiss National Bank now owns 193,900 shares of the company's stock valued at $2,633,000 after purchasing an additional 1,200 shares during the period. Intact Investment Management Inc. raised its stake in shares of MAG Silver by 21.3% during the 4th quarter. Intact Investment Management Inc. now owns 307,433 shares of the company's stock valued at $4,176,000 after purchasing an additional 54,033 shares during the period. Raymond James Financial Inc. bought a new stake in shares of MAG Silver during the 4th quarter valued at $3,482,000. Two Sigma Investments LP bought a new stake in shares of MAG Silver during the 4th quarter valued at $401,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of MAG Silver by 56.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 278,000 shares of the company's stock valued at $3,781,000 after purchasing an additional 100,500 shares during the period. Hedge funds and other institutional investors 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.