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

MAG Silver Corp. (NYSEAMERICAN:MAG)’s stock price fell 4.3% during mid-day trading on Thursday . The company 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.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MAG. TD Securities raised shares of MAG Silver to a “strong-buy” rating in a report on Monday, March 10th. HC Wainwright boosted their price target on MAG Silver from $21.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, March 25th. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research report on Monday, March 31st. Roth Mkm dropped their price target 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. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of MAG Silver in a report on Monday. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.60.

MAG Silver Price Performance

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

MAG Silver Announces Dividend

The company also recently announced 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 is currently 101.41%.

Hedge Funds Weigh In On MAG Silver

Institutional investors and hedge funds have recently made changes to their positions in the business. First Eagle Investment Management LLC lifted its holdings in shares of MAG Silver by 46.4% in the 4th quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company’s stock worth $106,379,000 after acquiring an additional 2,486,538 shares during the last quarter. Tidal Investments LLC grew its stake in shares of MAG Silver by 3.6% during the third quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock valued at $39,453,000 after buying an additional 98,312 shares during the last quarter. Sprott Inc. raised its holdings in shares of MAG Silver by 8.5% in the fourth quarter. Sprott Inc. now owns 2,649,507 shares of the company’s stock worth $36,004,000 after buying an additional 208,252 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in MAG Silver by 6.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,161,605 shares of the company’s stock valued at $15,762,000 after acquiring an additional 73,205 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of MAG Silver by 3,324.7% during the fourth quarter. Millennium Management LLC now owns 886,203 shares of the company’s stock worth $12,052,000 after purchasing an additional 860,326 shares during the last quarter. 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.