Alps Advisors Inc. Purchases 344,290 Shares of MAG Silver Corporation (NYSEAMERICAN:MAG)

Alps Advisors Inc. raised its stake in MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 711.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 392,675 shares of the company's stock after acquiring an additional 344,290 shares during the quarter. Alps Advisors Inc. owned approximately 0.38% of MAG Silver worth $6,000,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. D.A. Davidson & CO. purchased a new stake in shares of MAG Silver during the 1st quarter valued at approximately $167,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of MAG Silver during the 4th quarter valued at approximately $156,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of MAG Silver during the 4th quarter valued at approximately $188,000. Tradition Wealth Management LLC purchased a new stake in shares of MAG Silver during the 4th quarter valued at approximately $222,000. Finally, Pictet Asset Management Holding SA lifted its stake in shares of MAG Silver by 20.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 17,792 shares of the company's stock valued at $242,000 after buying an additional 3,029 shares in the last quarter. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MAG. Roth Mkm decreased their target price on shares of MAG Silver from $16.50 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, March 25th. Canaccord Genuity Group lowered shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Roth Capital increased their price target on shares of MAG Silver from $18.00 to $21.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. HC Wainwright reissued a "buy" rating and issued a $22.00 price target on shares of MAG Silver in a report on Thursday, April 24th. Finally, Wall Street Zen raised shares of MAG Silver from a "sell" rating to a "hold" rating in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $19.38.

MAG Silver Stock Down 1.4%

Shares of NYSEAMERICAN:MAG traded down $0.32 on Monday, hitting $21.99. The company had a trading volume of 1,739,627 shares, compared to its average volume of 1,276,701. The firm's 50-day simple moving average is $19.82 and its two-hundred day simple moving average is $16.62. MAG Silver Corporation has a 1 year low of $11.29 and a 1 year high of $22.66. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 24.99 and a beta of 0.75.

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. The ex-dividend date of this dividend was Monday, May 19th. This represents a yield of 0.5%. MAG Silver's dividend payout ratio (DPR) 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.