Short Interest in MAG Silver Corp. (NYSEAMERICAN:MAG) Decreases By 38.9%

MAG Silver Corp. (NYSEAMERICAN:MAG) saw a significant drop in short interest in the month of May. As of May 31st, there was short interest totalling 1,600,000 shares, a drop of 38.9% from the May 15th total of 2,620,000 shares. Based on an average daily volume of 1,540,000 shares, the days-to-cover ratio is currently 1.0 days. Approximately 1.6% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MAG shares. TD Securities lowered MAG Silver from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, May 22nd. Roth Mkm reduced their price objective 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. Scotiabank restated a “sector perform” rating on shares of MAG Silver in a report on Monday, April 14th. Raymond James reissued an “outperform” rating on shares of MAG Silver in a research report on Tuesday, March 25th. Finally, Roth Capital set a $16.00 target price on MAG Silver in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Swiss National Bank boosted its position in shares of MAG Silver by 0.6% during the fourth quarter. Swiss National Bank now owns 193,900 shares of the company’s stock valued at $2,633,000 after purchasing an additional 1,200 shares in the last quarter. Intact Investment Management Inc. lifted its position in MAG Silver by 21.3% during the fourth quarter. Intact Investment Management Inc. now owns 307,433 shares of the company’s stock valued at $4,176,000 after buying an additional 54,033 shares during the period. Raymond James Financial Inc. bought a new stake in shares of MAG Silver during the 4th quarter valued at $3,482,000. Two Sigma Investments LP purchased a new stake in shares of MAG Silver in the 4th quarter worth about $401,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of MAG Silver by 56.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 278,000 shares of the company’s stock worth $3,781,000 after acquiring an additional 100,500 shares in the last quarter. Institutional investors own 52.50% of the company’s stock.

MAG Silver Trading Up 0.0%

Shares of MAG Silver stock traded up $0.01 on Monday, hitting $21.43. 2,249,096 shares of the company traded hands, compared to its average volume of 1,177,867. MAG Silver has a 12-month low of $11.29 and a 12-month high of $21.83. The company has a market cap of $2.22 billion, a P/E ratio of 30.18 and a beta of 1.09. The firm’s 50-day simple moving average is $17.29 and its 200 day simple moving average is $16.02.

MAG Silver Announces Dividend

The company also recently declared a — dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were given a dividend of $0.18 per share. The ex-dividend date was Monday, May 19th. This represents a yield of 0.5%. MAG Silver’s payout ratio is currently 101.41%.

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.