Cetera Investment Advisers Acquires New Position in MAG Silver Corporation $MAG

Key Points

• Cetera Investment Advisers acquired 22,274 shares of MAG Silver Corporation, valued at approximately $340,000, indicating increased institutional interest in the company.
• The company recently declared a dividend of $0.124 per share, scheduled for payment on September 1st, representing a dividend yield of 236.0%.
• MAG Silver's stock currently has a consensus rating of "Hold" with a target price estimated at $21.00, amidst varied ratings from analysts.

Cetera Investment Advisers bought a new stake in MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 22,274 shares of the company's stock, valued at approximately $340,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MAG. Millennium Management LLC raised its position in MAG Silver by 3,324.7% in 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. Alps Advisors Inc. grew its stake in shares of MAG Silver by 711.6% in the first 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 in the last quarter. Raymond James Financial Inc. acquired a new position in shares of MAG Silver in the fourth quarter worth $3,482,000. U S Global Investors Inc. acquired a new position in shares of MAG Silver in the first quarter worth $1,146,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of MAG Silver by 18.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 328,000 shares of the company's stock worth $4,990,000 after acquiring an additional 50,000 shares in the last quarter. Hedge funds and other institutional investors own 52.50% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on MAG shares. HC Wainwright restated a "neutral" rating and issued a $22.00 price target on shares of MAG Silver in a research note on Thursday, July 24th. Canaccord Genuity Group downgraded shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Roth Capital restated a "neutral" rating and issued a $23.00 price target (up previously from $22.00) on shares of MAG Silver in a research note on Tuesday, August 12th. Scotiabank restated an "outperform" rating on shares of MAG Silver in a research note on Tuesday, August 12th. Finally, TD Securities downgraded shares of MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Two research 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 data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $21.00.

MAG Silver Trading Up 1.5%

Shares of MAG stock traded up $0.35 during trading hours on Friday, hitting $23.69. The company's stock had a trading volume of 1,702,438 shares, compared to its average volume of 1,773,785. The business has a fifty day moving average of $21.78 and a 200-day moving average of $18.14. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of 23.93 and a beta of 0.69. MAG Silver Corporation has a twelve month low of $11.72 and a twelve month high of $23.80.

MAG Silver Announces Dividend

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