Virtu Financial LLC Invests $179,000 in MAG Silver Corporation $MAG

Key Points

• Virtu Financial LLC purchased 11,726 shares of MAG Silver Corporation, valued at approximately $179,000, during the first quarter of the year.
• Institutional investors and hedge funds currently own 52.50% of MAG Silver, with significant increases in holdings from firms like Allspring Global Investments and Alps Advisors.
• The stock has a consensus rating of Hold among analysts, with price targets ranging from $21.00 to $23.00.

Virtu Financial LLC purchased a new position in shares of MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,726 shares of the company's stock, valued at approximately $179,000.

Other hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in shares of MAG Silver during the first quarter worth $37,000. D. E. Shaw & Co. Inc. acquired a new position in shares of MAG Silver during the fourth quarter worth $156,000. D.A. Davidson & CO. acquired a new position in shares of MAG Silver during the first quarter worth $167,000. Everett Harris & Co. CA acquired a new position in shares of MAG Silver during the first quarter worth $177,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of MAG Silver during the fourth quarter worth $188,000. Institutional investors and hedge funds own 52.50% of the company's stock.

MAG Silver Stock Performance

NYSEAMERICAN MAG traded up $0.51 on Thursday, hitting $23.34. The stock had a trading volume of 2,629,577 shares, compared to its average volume of 1,697,116. MAG Silver Corporation has a 52-week low of $11.72 and a 52-week high of $23.50. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 23.58 and a beta of 0.69. The firm has a 50-day moving average of $21.74 and a 200-day moving average of $18.07.

MAG Silver Dividend Announcement

The company also recently announced a dividend, which will be paid on Monday, September 1st. Shareholders of record on Tuesday, August 19th will be paid a $0.124 dividend. The ex-dividend date is Monday, August 18th. This represents a yield of 236.0%. MAG Silver's dividend payout ratio is currently 33.80%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. 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 restated a "neutral" rating and issued a $23.00 target price (up previously from $22.00) on shares of MAG Silver in a report on Tuesday, August 12th. Scotiabank restated an "outperform" rating on shares of MAG Silver in a report on Tuesday, August 12th. TD Securities lowered shares of MAG Silver from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group lowered shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. 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 stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price 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.