MAG Silver (NYSEAMERICAN:MAG) Shares Gap Up – Here’s Why

MAG Silver Corp. (NYSEAMERICAN:MAG)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $12.56, but opened at $13.25. MAG Silver shares last traded at $12.93, with a volume of 215,777 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MAG shares. Roth Capital set a $16.00 price objective on MAG Silver in a research report on Tuesday, March 25th. HC Wainwright raised their target price on MAG Silver from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, March 25th. Roth Mkm lowered their target price on MAG Silver from $16.50 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Raymond James reaffirmed an “outperform” rating on shares of MAG Silver in a research note on Tuesday, March 25th. Finally, StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a report on Monday, March 31st. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

MAG Silver Stock Performance

The firm has a market capitalization of $1.33 billion, a P/E ratio of 18.11 and a beta of 1.09. The business’s 50 day moving average is $15.60.

MAG Silver Dividend Announcement

The business also recently declared a — dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, April 4th will be paid a $0.18 dividend. This represents a yield of 1.5%. The ex-dividend date is Friday, April 4th. MAG Silver’s payout ratio is currently 101.41%.

Institutional Trading of MAG Silver

Large investors have recently added to or reduced their stakes in the company. Aigen Investment Management LP purchased a new stake in shares of MAG Silver during the 4th quarter valued at about $156,000. D. E. Shaw & Co. Inc. bought a new stake in MAG Silver during the fourth quarter worth approximately $156,000. Verition Fund Management LLC purchased a new stake in MAG Silver during the third quarter valued at approximately $168,000. Susquehanna Fundamental Investments LLC purchased a new stake in MAG Silver during the fourth quarter valued at approximately $188,000. Finally, Tradition Wealth Management LLC bought a new stake in shares of MAG Silver in the 4th quarter valued at approximately $222,000. 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.