MAG Silver (NYSEAMERICAN:MAG) Stock Price Up 6.4% – Here’s What Happened

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) traded up 6.4% on Friday . The company traded as high as $15.21 and last traded at $15.07. 199,974 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 667,871 shares. The stock had previously closed at $14.16.

Analyst Ratings Changes

MAG has been the subject of a number of recent analyst reports. TD Securities upgraded shares of MAG Silver to a “strong-buy” rating in a research report on Monday, March 10th. HC Wainwright increased their price objective on shares of MAG Silver from $21.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, March 25th. Raymond James restated an “outperform” rating on shares of MAG Silver in a research report on Tuesday, March 25th. Roth Mkm decreased their price target on MAG Silver from $16.50 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Finally, StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research note on Monday, March 31st. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, MAG Silver currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

MAG Silver Trading Up 6.2 %

The company has a market cap of $1.55 billion, a price-to-earnings ratio of 21.18 and a beta of 1.09. The business has a 50-day moving average price of $15.55 and a 200 day moving average price of $15.20.

MAG Silver Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MAG. Aigen Investment Management LP purchased a new stake in MAG Silver in the 4th quarter worth about $156,000. D. E. Shaw & Co. Inc. acquired a new position in shares of MAG Silver in the 4th quarter valued at about $156,000. Verition Fund Management LLC purchased a new stake in shares of MAG Silver in the third quarter worth approximately $168,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of MAG Silver during the fourth quarter worth approximately $188,000. Finally, Tradition Wealth Management LLC purchased a new position in MAG Silver during the fourth quarter valued at approximately $222,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

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.