Amundi Buys 202,059 Shares of MAG Silver Corporation $MAG

Key Points

• Amundi has increased its stake in MAG Silver Corporation by 39.8%, now owning approximately 710,000 shares valued at around $10.77 million.
• Other institutional investors, including Millennium Management and Alps Advisors, have also significantly increased their stakes in MAG Silver, indicating strong confidence in the company.
• MAG Silver recently declared a dividend of $0.124 per share, reflecting a remarkable yield of 236.0% and a payout ratio of 33.80%.

Amundi increased its stake in MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 39.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 710,000 shares of the company's stock after purchasing an additional 202,059 shares during the quarter. Amundi owned about 0.69% of MAG Silver worth $10,771,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Rathbones Group PLC lifted its stake in MAG Silver by 4.8% during the first quarter. Rathbones Group PLC now owns 16,957 shares of the company's stock worth $259,000 after purchasing an additional 770 shares during the last quarter. Veracity Capital LLC grew its stake in shares of MAG Silver by 8.1% in the 1st quarter. Veracity Capital LLC now owns 18,611 shares of the company's stock worth $284,000 after buying an additional 1,401 shares during the last quarter. Raymond James Financial Inc. grew its stake in shares of MAG Silver by 0.7% in the 1st quarter. Raymond James Financial Inc. now owns 257,763 shares of the company's stock worth $3,939,000 after buying an additional 1,738 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its position in MAG Silver by 39.3% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,178 shares of the company's stock valued at $124,000 after acquiring an additional 2,308 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in MAG Silver by 5.1% in the 4th quarter. Bank of America Corp DE now owns 49,779 shares of the company's stock valued at $677,000 after acquiring an additional 2,399 shares in the last quarter. Institutional investors own 52.50% of the company's stock.

MAG Silver Stock Down 1.2%

Shares of MAG traded down $0.29 during midday trading on Monday, reaching $24.47. 2,177,252 shares of the stock were exchanged, compared to its average volume of 1,906,338. MAG Silver Corporation has a twelve month low of $11.72 and a twelve month high of $25.09. The company has a market cap of $2.54 billion, a P/E ratio of 24.72 and a beta of 0.73. The stock's 50 day simple moving average is $22.68 and its 200 day simple moving average is $19.16.

MAG Silver Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, September 1st. Investors of record on Tuesday, August 19th were paid a $0.124 dividend. This represents a dividend yield of 236.0%. The ex-dividend date of this dividend was Monday, August 18th. MAG Silver's payout ratio is currently 33.80%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Roth Capital reissued a "neutral" rating and set a $23.00 price target (up from $22.00) on shares of MAG Silver in a report on Tuesday, August 12th. HC Wainwright reissued a "neutral" rating and issued a $22.00 price objective on shares of MAG Silver in a research note on Thursday, July 24th. Scotiabank reaffirmed an "outperform" rating on shares of MAG Silver in a research report on Tuesday, August 12th. Finally, TD Securities lowered shares of MAG Silver from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, May 22nd. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MAG Silver currently has a consensus rating of "Hold" and a consensus price target of $21.00.

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.