Allspring Global Investments Holdings LLC Has $4.99 Million Stake in MAG Silver Corporation (NYSEAMERICAN:MAG)

Allspring Global Investments Holdings LLC raised its holdings in shares of MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 18.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 328,000 shares of the company's stock after buying an additional 50,000 shares during the period. Allspring Global Investments Holdings LLC owned about 0.32% of MAG Silver worth $4,990,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Aigen Investment Management LP purchased a new stake in MAG Silver in the 4th quarter worth approximately $156,000. Raymond James Financial Inc. acquired a new position in shares of MAG Silver during the 4th quarter worth $3,482,000. Amundi grew its stake in MAG Silver by 34.3% in the 4th quarter. Amundi now owns 507,941 shares of the company's stock valued at $7,264,000 after buying an additional 129,627 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in MAG Silver by 6.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,161,605 shares of the company's stock valued at $15,762,000 after buying an additional 73,205 shares during the last quarter. Finally, Swiss National Bank grew its stake in MAG Silver by 0.6% in the 4th quarter. Swiss National Bank now owns 193,900 shares of the company's stock valued at $2,633,000 after buying an additional 1,200 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on MAG shares. HC Wainwright reaffirmed a "buy" rating and set a $22.00 price objective on shares of MAG Silver in a report on Thursday, April 24th. Raymond James Financial reaffirmed an "outperform" rating on shares of MAG Silver in a research note on Tuesday, March 25th. 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. 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. Finally, Roth Mkm decreased their price objective on shares of MAG Silver from $16.50 to $16.00 and set a "neutral" rating for the company in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $19.38.

MAG Silver Stock Down 2.8%

Shares of MAG traded down $0.61 during trading hours on Tuesday, hitting $21.10. The company had a trading volume of 951,061 shares, compared to its average volume of 1,251,428. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 23.98 and a beta of 0.75. The business has a fifty day moving average of $19.30 and a 200-day moving average of $16.47. MAG Silver Corporation has a 12 month low of $11.29 and a 12 month high of $21.83.

MAG Silver Announces Dividend

The firm also recently declared a -- dividend, which was paid on Wednesday, May 28th. Investors 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 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.