Credit Industriel ET Commercial Acquires Shares of 717,180 MAG Silver Corporation $MAG

Credit Industriel ET Commercial acquired a new stake in MAG Silver Corporation (NYSEAMERICAN:MAG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 717,180 shares of the company’s stock, valued at approximately $15,169,000. MAG Silver makes up about 1.3% of Credit Industriel ET Commercial’s investment portfolio, making the stock its 7th largest position. Credit Industriel ET Commercial owned 0.69% of MAG Silver at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MAG. Goldman Sachs Group Inc. lifted its holdings in MAG Silver by 124.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 805,198 shares of the company’s stock valued at $12,303,000 after purchasing an additional 446,543 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of MAG Silver by 711.6% during the 1st quarter. Alps Advisors Inc. now owns 392,675 shares of the company’s stock worth $6,000,000 after acquiring an additional 344,290 shares during the period. Monaco Asset Management SAM raised its holdings in shares of MAG Silver by 127.6% during the 1st quarter. Monaco Asset Management SAM now owns 526,000 shares of the company’s stock worth $8,034,000 after acquiring an additional 294,878 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of MAG Silver by 11.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,455,720 shares of the company’s stock worth $37,350,000 after acquiring an additional 258,379 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of MAG Silver by 20.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,399,405 shares of the company’s stock worth $21,290,000 after acquiring an additional 237,800 shares during the period. Hedge funds and other institutional investors own 52.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on MAG. HC Wainwright reiterated a “neutral” rating and set a $22.00 price target on shares of MAG Silver in a report on Thursday, July 24th. Roth Capital reiterated a “neutral” rating and set a $23.00 price target (up previously from $22.00) on shares of MAG Silver in a report on Tuesday, August 12th. Finally, Scotiabank reiterated an “outperform” rating on shares of MAG Silver in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.00.

MAG Silver Trading Down 1.2%

Shares of MAG opened at $24.47 on Tuesday. The firm has a market cap of $2.54 billion, a P/E ratio of 24.72 and a beta of 0.73. MAG Silver Corporation has a 12-month low of $11.72 and a 12-month high of $25.09. The company’s 50-day moving average price is $23.97 and its 200 day moving average price is $20.51.

MAG Silver Dividend Announcement

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

MAG Silver 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.