MAG Silver Corp. (NYSEAMERICAN:MAG) Stake Increased by Millennium Management LLC

Millennium Management LLC increased its holdings in MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 3,324.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 886,203 shares of the company's stock after buying an additional 860,326 shares during the quarter. Millennium Management LLC owned about 0.86% of MAG Silver worth $12,052,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aigen Investment Management LP bought a new position in MAG Silver in the 4th quarter worth approximately $156,000. D. E. Shaw & Co. Inc. bought a new position in MAG Silver during the 4th quarter valued at $156,000. Susquehanna Fundamental Investments LLC bought a new position in MAG Silver during the 4th quarter valued at $188,000. Tradition Wealth Management LLC bought a new position in MAG Silver during the 4th quarter valued at $222,000. Finally, Strategic Financial Concepts LLC bought a new position in MAG Silver during the 4th quarter valued at $240,000. 52.50% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MAG shares. Canaccord Genuity Group lowered MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. HC Wainwright reaffirmed a "buy" rating and set a $22.00 price target on shares of MAG Silver in a research note on Thursday, April 24th. Roth Mkm decreased their price target on MAG Silver from $16.50 to $16.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. TD Securities lowered MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen raised MAG Silver from a "sell" rating to a "hold" rating in a research note on Monday, March 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $18.13.

MAG Silver Price Performance

Shares of MAG traded up $0.01 during trading hours on Thursday, hitting $18.78. 443,484 shares of the company were exchanged, compared to its average volume of 1,039,358. The company has a market capitalization of $1.94 billion, a PE ratio of 26.45 and a beta of 1.09. The firm has a fifty day simple moving average of $16.01 and a 200-day simple moving average of $15.56. MAG Silver Corp. has a one year low of $11.29 and a one year high of $19.17.

MAG Silver Dividend Announcement

The business also recently disclosed a -- dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were paid a dividend of $0.18 per share. This represents a dividend yield of 0.5%. The ex-dividend date was Monday, May 19th. MAG Silver's dividend payout ratio is presently 101.41%.

About MAG Silver

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.