MAG Silver (NYSEAMERICAN:MAG) Shares Gap Up – Should You Buy?

Shares of MAG Silver Corp. (NYSEAMERICAN:MAG) gapped up before the market opened on Wednesday . The stock had previously closed at $12.56, but opened at $13.25. MAG Silver shares last traded at $12.93, with a volume of 215,777 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MAG. StockNews.com upgraded shares of 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 research note on Monday, March 10th. 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 note on Tuesday, March 25th. Roth Mkm cut their target price on MAG Silver from $16.50 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Finally, Raymond James restated an “outperform” rating on shares of MAG Silver in a research report on Tuesday, March 25th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.00.

MAG Silver Stock Up 5.9 %

The firm has a market cap of $1.55 billion, a PE ratio of 21.13 and a beta of 1.09. The business has a 50 day simple moving average of $15.55 and a two-hundred day simple moving average of $15.20.

MAG Silver Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Monday, April 21st. Investors 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%. MAG Silver’s payout ratio is 101.41%.

Institutional Trading of MAG Silver

A number of hedge funds have recently bought and sold shares of MAG. First Eagle Investment Management LLC raised its stake in shares of MAG Silver by 46.4% in the fourth 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 lifted its stake in MAG Silver by 3.6% during the 3rd quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock valued at $39,453,000 after acquiring an additional 98,312 shares during the period. Sprott Inc. increased its stake in shares of MAG Silver by 8.5% in the fourth quarter. Sprott Inc. now owns 2,649,507 shares of the company’s stock worth $36,004,000 after acquiring an additional 208,252 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of MAG Silver by 6.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,161,605 shares of the company’s stock worth $15,762,000 after purchasing an additional 73,205 shares during the last quarter. Finally, Millennium Management LLC lifted 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 valued at $12,052,000 after purchasing an additional 860,326 shares during the period. Hedge funds and other 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.