Hollencrest Capital Management Has $2.20 Million Stock Position in MAG Silver Corporation (NYSEAMERICAN:MAG)

Hollencrest Capital Management lowered its stake in MAG Silver Corporation (NYSEAMERICAN:MAG) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 143,688 shares of the company’s stock after selling 2,000 shares during the quarter. Hollencrest Capital Management owned approximately 0.14% of MAG Silver worth $2,196,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of MAG Silver in the fourth quarter valued at approximately $3,482,000. Swiss National Bank increased its holdings in MAG Silver by 0.6% in 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 during the period. Quantbot Technologies LP increased its holdings in MAG Silver by 498.1% in the fourth quarter. Quantbot Technologies LP now owns 22,089 shares of the company’s stock valued at $300,000 after purchasing an additional 18,396 shares during the period. Pictet Asset Management Holding SA grew its holdings in MAG Silver by 20.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 17,792 shares of the company’s stock worth $242,000 after acquiring an additional 3,029 shares during the period. Finally, Schroder Investment Management Group grew its holdings in MAG Silver by 38.4% during the 4th quarter. Schroder Investment Management Group now owns 323,100 shares of the company’s stock worth $4,297,000 after acquiring an additional 89,700 shares during the period. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Stock Performance

NYSEAMERICAN:MAG opened at $21.11 on Friday. The firm has a market cap of $2.18 billion, a P/E ratio of 23.99 and a beta of 0.75. The firm has a 50-day simple moving average of $20.32 and a 200-day simple moving average of $16.78. MAG Silver Corporation has a one year low of $11.29 and a one year high of $22.66.

MAG Silver Dividend Announcement

The business also recently disclosed 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. This represents a yield of 0.5%. The ex-dividend date of this dividend was Monday, May 19th. MAG Silver’s dividend payout ratio is presently 33.80%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Securities cut shares of MAG Silver from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, May 22nd. Raymond James Financial restated an “outperform” rating on shares of MAG Silver in a research note on Tuesday, March 25th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective on shares of MAG Silver in a research note on Thursday, April 24th. Roth Mkm reduced their price objective on shares of MAG Silver from $16.50 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Finally, Canaccord Genuity Group lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, MAG Silver has a consensus rating of “Hold” and a consensus price target of $19.38.

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.