MAG Silver (NYSEAMERICAN:MAG) Shares Gap Up Following Dividend Announcement

MAG Silver Corp. (NYSEAMERICAN:MAG)’s share price gapped up prior to trading on Monday after the company announced a dividend. The stock had previously closed at $16.92, but opened at $19.00. MAG Silver shares last traded at $18.20, with a volume of 2,385,915 shares changing hands.

The newly announced dividend which will be paid on Wednesday, May 28th. Investors of record on Monday, May 19th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a dividend yield of 0.5%. MAG Silver’s dividend payout ratio (DPR) is presently 101.41%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a report on Monday, March 31st. TD Securities raised MAG Silver to a “strong-buy” rating in a report on Monday, March 10th. Raymond James reissued an “outperform” rating on shares of MAG Silver in a report on Tuesday, March 25th. Roth Capital set a $16.00 price target on shares of MAG Silver in a research report on Tuesday, March 25th. Finally, 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 report on Tuesday, March 25th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.60.

MAG Silver Stock Up 7.7%

The company’s 50-day moving average price is $15.31 and its 200-day moving average price is $15.31. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 25.68 and a beta of 1.09.

Institutional Investors Weigh In On MAG Silver

Several large investors have recently bought and sold shares of the company. CIBC Asset Management Inc increased its stake in MAG Silver by 0.7% during the 4th quarter. CIBC Asset Management Inc now owns 114,355 shares of the company’s stock worth $1,550,000 after buying an additional 755 shares in the last quarter. Swiss National Bank increased its stake in MAG Silver by 0.6% during the 4th quarter. Swiss National Bank now owns 193,900 shares of the company’s stock worth $2,633,000 after buying an additional 1,200 shares in the last quarter. Geode Capital Management LLC boosted its position in MAG Silver by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 50,088 shares of the company’s stock worth $687,000 after acquiring an additional 1,245 shares during the last quarter. Veracity Capital LLC boosted its position in MAG Silver by 8.1% during the first quarter. Veracity Capital LLC now owns 18,611 shares of the company’s stock worth $284,000 after acquiring an additional 1,401 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in MAG Silver by 5.1% during the fourth quarter. Bank of America Corp DE now owns 49,779 shares of the company’s stock worth $677,000 after acquiring an additional 2,399 shares during the last quarter. 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.