MAG Silver (NYSEAMERICAN:MAG) Shares Gap Up – Still a Buy?

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.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Roth Capital set a $16.00 price target on shares of MAG Silver in a research note on Tuesday, March 25th. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a report on Monday, March 31st. Raymond James reaffirmed an “outperform” rating on shares of MAG Silver in a research report 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, Roth Mkm decreased their price objective on shares of MAG Silver from $16.50 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, March 25th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, MAG Silver presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

MAG Silver Stock Up 2.4 %

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

MAG Silver Announces Dividend

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

Institutional Trading of MAG Silver

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