MAG Silver (NYSEAMERICAN:MAG) Price Target Lowered to $16.00 at Roth Mkm

MAG Silver (NYSEAMERICAN:MAG - Free Report) had its price target reduced by Roth Mkm from $16.50 to $16.00 in a report published on Tuesday,Benzinga reports. Roth Mkm currently has a neutral rating on the stock.

Other equities analysts also recently issued research reports about the stock. HC Wainwright raised their target price on shares of MAG Silver from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday. TD Securities raised MAG Silver to a "strong-buy" rating in a research report on Monday, March 10th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MAG Silver currently has a consensus rating of "Moderate Buy" and an average target price of $18.00.

MAG Silver Trading Down 5.6 %

MAG traded down $0.93 on Tuesday, reaching $15.70. 1,089,570 shares of the company's stock were exchanged, compared to its average volume of 628,689. MAG Silver has a twelve month low of $10.62 and a twelve month high of $18.27. The company's 50 day simple moving average is $15.70. The company has a market capitalization of $1.62 billion, a P/E ratio of 22.11 and a beta of 1.09.

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MAG Silver Announces Dividend

The firm also recently disclosed a -- dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, April 4th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a yield of 1.5%.

Institutional Trading of MAG Silver

A number of hedge funds and other institutional investors have recently made changes to their positions in MAG. First Eagle Investment Management LLC increased its position 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 purchasing an additional 2,486,538 shares during the last quarter. Tidal Investments LLC increased its holdings in MAG Silver by 3.6% in 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 stake in MAG Silver by 8.5% during the fourth quarter. Sprott Inc. now owns 2,649,507 shares of the company's stock valued at $36,004,000 after buying an additional 208,252 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in MAG Silver by 6.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,161,605 shares of the company's stock worth $15,762,000 after buying an additional 73,205 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of MAG Silver by 3,324.7% in the 4th quarter. Millennium Management LLC now owns 886,203 shares of the company's stock worth $12,052,000 after acquiring an additional 860,326 shares in the last quarter. Institutional investors own 52.50% of the company's stock.

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.