MAG Silver (NYSEAMERICAN:MAG) Stock Price Down 4.3% – Here’s What Happened

MAG Silver Corp. (NYSEAMERICAN:MAG)’s share price fell 4.3% on Thursday . The stock traded as low as $15.29 and last traded at $15.32. 198,387 shares were traded during trading, a decline of 71% from the average session volume of 680,758 shares. The stock had previously closed at $16.00.

Wall Street Analyst Weigh In

MAG has been the subject of several research analyst reports. HC Wainwright lifted their price target on MAG Silver from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 25th. StockNews.com raised shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Monday, March 31st. Roth Capital set a $16.00 price objective on shares of MAG Silver in a research note on Tuesday, March 25th. TD Securities raised shares of MAG Silver to a “strong-buy” rating in a research note on Monday, March 10th. Finally, Raymond James reaffirmed an “outperform” rating on shares of MAG Silver in a research note on Tuesday, March 25th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.60.

MAG Silver Price Performance

The stock’s 50 day moving average is $15.56 and its 200-day moving average is $15.21. The company has a market capitalization of $1.61 billion, a P/E ratio of 21.96 and a beta of 1.09.

MAG Silver Dividend Announcement

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

Institutional Trading of MAG Silver

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Advisors Network LLC raised its stake in MAG Silver by 6.9% during the first quarter. Integrated Advisors Network LLC now owns 65,450 shares of the company’s stock valued at $1,000,000 after buying an additional 4,200 shares during the last quarter. Veracity Capital LLC boosted its stake in MAG Silver by 8.1% in the 1st quarter. Veracity Capital LLC now owns 18,611 shares of the company’s stock worth $284,000 after purchasing an additional 1,401 shares in the last quarter. PKO Investment Management Joint Stock Co purchased a new stake in MAG Silver during the 4th quarter valued at about $651,000. Two Sigma Investments LP bought a new stake in MAG Silver during the 4th quarter valued at about $401,000. Finally, Millennium Management LLC lifted its stake in shares of MAG Silver by 3,324.7% in the fourth quarter. Millennium Management LLC now owns 886,203 shares of the company’s stock worth $12,052,000 after buying an additional 860,326 shares in the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.