Alps Advisors Inc. Boosts Stake in MAG Silver Corporation (NYSEAMERICAN:MAG)

Alps Advisors Inc. increased its position in MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 711.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 392,675 shares of the company's stock after buying an additional 344,290 shares during the period. Alps Advisors Inc. owned 0.38% of MAG Silver worth $6,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its holdings in shares of MAG Silver by 46.4% in the fourth quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company's stock worth $106,379,000 after buying an additional 2,486,538 shares during the period. Millennium Management LLC increased its position in MAG Silver by 3,324.7% during the 4th 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. Raymond James Financial Inc. bought a new position in shares of MAG Silver during the fourth quarter valued at approximately $3,482,000. Monaco Asset Management SAM increased its holdings in shares of MAG Silver by 181.2% in the 4th quarter. Monaco Asset Management SAM now owns 231,122 shares of the company's stock valued at $3,142,000 after acquiring an additional 148,922 shares during the period. Finally, Amundi raised its holdings in MAG Silver by 34.3% in the fourth quarter. Amundi now owns 507,941 shares of the company's stock worth $7,264,000 after purchasing an additional 129,627 shares in the last quarter. 52.50% of the stock is owned by institutional investors.

MAG Silver Stock Up 3.1%

Shares of MAG Silver stock traded up $0.67 during trading hours on Friday, reaching $22.31. 1,872,141 shares of the company's stock were exchanged, compared to its average volume of 1,724,583. The business has a fifty day moving average of $19.67 and a two-hundred day moving average of $16.56. The company has a market capitalization of $2.31 billion, a P/E ratio of 24.59 and a beta of 0.75. MAG Silver Corporation has a 1 year low of $11.29 and a 1 year high of $22.36.

MAG Silver Announces Dividend

The business also recently declared a -- dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were issued a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a dividend yield of 0.5%. MAG Silver's dividend payout ratio is presently 33.80%.

Wall Street Analyst Weigh In

MAG has been the topic of a number of recent analyst reports. Raymond James Financial reaffirmed an "outperform" rating on shares of MAG Silver in a research report on Tuesday, March 25th. Canaccord Genuity Group lowered shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. Wall Street Zen upgraded MAG Silver from a "sell" rating to a "hold" rating in a research note on Monday, March 31st. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 price objective on shares of MAG Silver in a report on Thursday, April 24th. Finally, Scotiabank restated a "sector perform" rating on shares of MAG Silver in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $19.38.

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.