MAG Silver (NYSEAMERICAN:MAG) Shares Gap Up - Time to Buy?

MAG Silver Corp. (NYSEAMERICAN:MAG - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $15.77, but opened at $16.36. MAG Silver shares last traded at $16.07, with a volume of 187,411 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of MAG Silver from a "sell" rating to a "hold" rating in a research report on Monday, March 31st. Roth Capital set a $16.00 price target on shares of MAG Silver in a research note on Tuesday, March 25th. HC Wainwright raised their target price on MAG Silver from $21.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, March 25th. Scotiabank upped their price target on MAG Silver from $18.00 to $18.50 and gave the stock a "sector outperform" rating in a research note on Monday. Finally, Raymond James reissued an "outperform" rating on shares of MAG Silver in a research note on Tuesday, March 25th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.60.

MAG Silver Price Performance

The company has a market cap of $1.66 billion, a P/E ratio of 22.68 and a beta of 1.09. The company has a 50 day moving average of $15.56 and a 200-day moving average of $15.20.

MAG Silver Announces Dividend

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 is Friday, April 4th. MAG Silver's payout ratio is currently 101.41%.

Institutional Trading of MAG Silver

A number of institutional investors have recently modified their holdings of the company. Aigen Investment Management LP bought a new stake in shares of MAG Silver in the fourth quarter worth approximately $156,000. D. E. Shaw & Co. Inc. purchased a new stake in MAG Silver during the 4th quarter valued at $156,000. Verition Fund Management LLC bought a new position in shares of MAG Silver during the 3rd quarter valued at $168,000. Susquehanna Fundamental Investments LLC purchased a new position in MAG Silver in the fourth quarter worth about $188,000. Finally, Tradition Wealth Management LLC purchased a new position in shares of MAG Silver in the fourth quarter worth approximately $222,000. 52.50% of the stock is currently 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.

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