Mackenzie Financial Corp Has $7.94 Million Position in MAG Silver Corporation (NYSEAMERICAN:MAG)

Key Points

• Mackenzie Financial Corp has increased its stake in MAG Silver Corporation by 58.7%, owning approximately $7.94 million worth of shares after purchasing additional shares in the first quarter.
• Analysts have a mixed outlook on MAG Silver, with Roth Capital raising its price target to $21.00, while TD Securities downgraded it to a "strong sell", indicating varying levels of confidence in the stock.
• The company announced a $0.18 dividend yielding 50.0%, reinforcing investor interest amid its recent performance fluctuations within a one-year trading range of $11.29 to $22.66.

Mackenzie Financial Corp lifted its stake in MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 58.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 521,795 shares of the company's stock after purchasing an additional 192,991 shares during the period. Mackenzie Financial Corp owned 0.50% of MAG Silver worth $7,937,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. TD Asset Management Inc increased its holdings in shares of MAG Silver by 4.1% in the first quarter. TD Asset Management Inc now owns 1,116,157 shares of the company's stock valued at $16,976,000 after purchasing an additional 43,822 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of MAG Silver in the first quarter valued at approximately $340,000. Ninepoint Partners LP acquired a new stake in shares of MAG Silver in the first quarter valued at approximately $657,000. Alps Advisors Inc. increased its holdings in shares of MAG Silver by 711.6% in the first quarter. Alps Advisors Inc. now owns 392,675 shares of the company's stock valued at $6,000,000 after purchasing an additional 344,290 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in MAG Silver by 12.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 28,164 shares of the company's stock worth $430,000 after acquiring an additional 3,109 shares during the period. Institutional investors and hedge funds own 52.50% of the company's stock.

Wall Street Analysts Forecast Growth

MAG has been the topic of a number of analyst reports. Roth Capital increased their price target on MAG Silver from $18.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. TD Securities downgraded MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Scotiabank reissued a "sector perform" rating on shares of MAG Silver in a research note on Monday, April 14th. Canaccord Genuity Group lowered shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Finally, HC Wainwright reissued a "neutral" rating and issued a $22.00 price target on shares of MAG Silver in a report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $19.38.

MAG Silver Price Performance

MAG Silver stock opened at $20.42 on Friday. MAG Silver Corporation has a one year low of $11.29 and a one year high of $22.66. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 23.20 and a beta of 0.75. The firm has a 50-day moving average of $20.98 and a 200-day moving average of $17.17.

MAG Silver Dividend Announcement

The company also recently announced a -- dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were paid a $0.18 dividend. This represents a yield of 50.0%. The ex-dividend date was Monday, May 19th. MAG Silver's dividend payout ratio (DPR) 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.

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