Rathbones Group PLC Buys 11,030 Shares of MAG Silver Corporation $MAG

Rathbones Group PLC grew its position in shares of MAG Silver Corporation (NYSEAMERICAN:MAG) by 65.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,987 shares of the company’s stock after purchasing an additional 11,030 shares during the quarter. Rathbones Group PLC’s holdings in MAG Silver were worth $592,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Envestnet Asset Management Inc. increased its stake in shares of MAG Silver by 12.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 28,164 shares of the company’s stock valued at $430,000 after acquiring an additional 3,109 shares in the last quarter. Ninepoint Partners LP acquired a new stake in MAG Silver in the first quarter worth $657,000. Cetera Investment Advisers bought a new stake in MAG Silver in the first quarter valued at $340,000. TD Asset Management Inc raised its holdings in shares of MAG Silver by 4.1% during the first quarter. TD Asset Management Inc now owns 1,116,157 shares of the company’s stock valued at $16,976,000 after purchasing an additional 43,822 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in shares of MAG Silver by 58.7% during the first quarter. Mackenzie Financial Corp now owns 521,795 shares of the company’s stock valued at $7,937,000 after purchasing an additional 192,991 shares during the period. 52.50% of the stock is currently owned by institutional investors.

MAG Silver Stock Performance

Shares of MAG opened at $24.47 on Wednesday. The firm has a market capitalization of $2.54 billion, a P/E ratio of 24.72 and a beta of 0.73. MAG Silver Corporation has a 52 week low of $11.72 and a 52 week high of $25.09. The stock has a 50 day moving average price of $24.47 and a two-hundred day moving average price of $21.98.

MAG Silver Dividend Announcement

The business also recently declared a dividend, which was paid on Monday, September 1st. Investors of record on Tuesday, August 19th were given a $0.124 dividend. This represents a yield of 236.0%. The ex-dividend date of this dividend was Monday, August 18th. MAG Silver’s dividend payout ratio is presently 33.80%.

Analysts Set New Price Targets

A number of analysts recently commented on MAG shares. Scotiabank reaffirmed an “outperform” rating on shares of MAG Silver in a research report on Tuesday, August 12th. Roth Capital restated a “neutral” rating and set a $23.00 price objective (up previously from $22.00) on shares of MAG Silver in a report on Tuesday, August 12th. Finally, HC Wainwright reaffirmed a “neutral” rating and set a $22.00 target price on shares of MAG Silver in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.00.

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.