MAG Silver Corp. (NYSEAMERICAN:MAG) Short Interest Down 17.3% in March

MAG Silver Corp. (NYSEAMERICAN:MAG) saw a large decline in short interest in the month of March. As of March 15th, there was short interest totalling 1,860,000 shares, a decline of 17.3% from the February 28th total of 2,250,000 shares. Based on an average daily volume of 598,500 shares, the short-interest ratio is currently 3.1 days. Approximately 2.0% of the shares of the company are sold short.

MAG Silver Price Performance

Shares of NYSEAMERICAN:MAG traded up $0.08 during trading on Tuesday, reaching $15.36. 588,375 shares of the company’s stock traded hands, compared to its average volume of 630,492. The company’s 50 day moving average is $15.72. MAG Silver has a 12 month low of $10.92 and a 12 month high of $18.27. The stock has a market cap of $1.59 billion, a PE ratio of 21.63 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. Investors of record on Friday, April 4th will be issued a dividend of $0.18 per share. This represents a dividend yield of 1.5%. The ex-dividend date is Friday, April 4th.

Wall Street Analyst Weigh In

MAG has been the topic of a number of research reports. Roth Mkm lowered their price objective on shares of MAG Silver from $16.50 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 25th. Roth Capital set a $16.00 price target on shares of MAG Silver in a research report on Tuesday, March 25th. TD Securities upgraded MAG Silver to a “strong-buy” rating in a research report on Monday, March 10th. Raymond James reiterated an “outperform” rating on shares of MAG Silver in a report on Tuesday, March 25th. Finally, StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a report on Monday. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Institutional Investors Weigh In On MAG Silver

A number of hedge funds have recently bought and sold shares of the company. Barclays PLC boosted its holdings in MAG Silver by 211.5% in the 3rd quarter. Barclays PLC now owns 30,780 shares of the company’s stock valued at $432,000 after purchasing an additional 20,899 shares during the period. Swiss National Bank lifted its stake in shares of MAG Silver by 0.6% in the fourth quarter. Swiss National Bank now owns 193,900 shares of the company’s stock valued at $2,633,000 after buying an additional 1,200 shares during the period. Intact Investment Management Inc. grew its position in MAG Silver by 21.3% during the fourth quarter. Intact Investment Management Inc. now owns 307,433 shares of the company’s stock worth $4,176,000 after buying an additional 54,033 shares in the last quarter. Raymond James Financial Inc. bought a new position in MAG Silver during the fourth quarter valued at about $3,482,000. Finally, Strategic Financial Concepts LLC acquired a new position in MAG Silver in the 4th quarter valued at approximately $240,000. 52.50% of the stock is currently owned by 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.