MAG Silver Corp. (NYSEAMERICAN:MAG) Sees Significant Drop in Short Interest

MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 1,860,000 shares, a decrease 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 presently 3.1 days. Currently, 2.0% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MAG. Raymond James reissued an "outperform" rating on shares of MAG Silver in a report on Tuesday, March 25th. TD Securities upgraded MAG Silver to a "strong-buy" rating in a report on Monday, March 10th. Roth Mkm reduced their price target on MAG Silver from $16.50 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. HC Wainwright raised their price objective on MAG Silver from $21.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, March 25th. Finally, Roth Capital set a $16.00 target price on shares of MAG Silver in a report on Tuesday, March 25th. Four equities research 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 MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

Institutional Investors Weigh In On MAG Silver

A number of institutional investors and hedge funds have recently modified their holdings of MAG. First Eagle Investment Management LLC grew its position in MAG Silver by 46.4% during the 4th quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company's stock worth $106,379,000 after purchasing an additional 2,486,538 shares during the period. Millennium Management LLC boosted its position in 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in MAG Silver in the fourth quarter valued at approximately $3,482,000. The Manufacturers Life Insurance Company increased its position in shares of MAG Silver by 199.7% in the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company's stock valued at $5,374,000 after buying an additional 254,553 shares in the last quarter. Finally, Sprott Inc. raised its stake in shares of MAG Silver by 8.5% during the 4th 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. Institutional investors and hedge funds own 52.50% of the company's stock.

MAG Silver Stock Down 11.9 %

NYSEAMERICAN:MAG traded down $1.80 during mid-day trading on Friday, hitting $13.37. 1,212,083 shares of the company's stock traded hands, compared to its average volume of 649,014. The stock has a fifty day moving average of $15.74. MAG Silver has a twelve month low of $11.29 and a twelve month high of $18.27. The company has a market cap of $1.38 billion, a P/E ratio of 18.83 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. Stockholders of record on Friday, April 4th will be issued a $0.18 dividend. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, April 4th. MAG Silver's dividend payout ratio is presently 101.41%.

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.