Cubist Systematic Strategies LLC Makes New Investment in MAG Silver Corporation $MAG

Cubist Systematic Strategies LLC purchased a new position in shares of MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 82,637 shares of the company's stock, valued at approximately $1,264,000. Cubist Systematic Strategies LLC owned approximately 0.08% of MAG Silver as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Rathbones Group PLC lifted its holdings in shares of MAG Silver by 4.8% in the 1st quarter. Rathbones Group PLC now owns 16,957 shares of the company's stock worth $259,000 after purchasing an additional 770 shares in the last quarter. Veracity Capital LLC lifted its holdings 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 purchasing an additional 1,401 shares in the last quarter. Raymond James Financial Inc. lifted its holdings 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 purchasing an additional 1,738 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its holdings in shares of MAG Silver by 39.3% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,178 shares of the company's stock worth $124,000 after purchasing an additional 2,308 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of MAG Silver by 5.1% in the 4th quarter. Bank of America Corp DE now owns 49,779 shares of the company's stock worth $677,000 after purchasing an additional 2,399 shares in the last quarter. 52.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

MAG Silver Price Performance

Shares of MAG Silver stock opened at $24.47 on Tuesday. MAG Silver Corporation has a 1 year low of $11.72 and a 1 year high of $25.09. The firm has a market cap of $2.54 billion, a PE ratio of 24.72 and a beta of 0.73. The stock has a fifty day moving average price of $22.44 and a 200-day moving average price of $18.91.

MAG Silver Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, September 1st. Stockholders of record on Tuesday, August 19th were given a dividend of $0.124 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a dividend yield of 236.0%. 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.

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