MAG Silver Corp. (NYSEAMERICAN:MAG) Shares Purchased by Millennium Management LLC

Millennium Management LLC raised its holdings in MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 3,324.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 886,203 shares of the company's stock after buying an additional 860,326 shares during the period. Millennium Management LLC owned approximately 0.86% of MAG Silver worth $12,052,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MAG. D. E. Shaw & Co. Inc. acquired a new stake in MAG Silver during the 4th quarter worth $156,000. Aigen Investment Management LP acquired a new stake in MAG Silver during the 4th quarter worth $156,000. Susquehanna Fundamental Investments LLC acquired a new stake in MAG Silver during the 4th quarter worth $188,000. Tradition Wealth Management LLC acquired a new stake in MAG Silver during the 4th quarter worth $222,000. Finally, Strategic Financial Concepts LLC acquired a new stake in MAG Silver during the 4th quarter worth $240,000. Hedge funds and other institutional investors own 52.50% of the company's stock.

MAG Silver Stock Performance

Shares of MAG Silver stock traded down $0.02 during trading hours on Tuesday, reaching $18.65. The company's stock had a trading volume of 2,350,186 shares, compared to its average volume of 1,039,952. The company's 50 day simple moving average is $15.89 and its 200 day simple moving average is $15.52. MAG Silver Corp. has a one year low of $11.29 and a one year high of $19.17. The stock has a market cap of $1.93 billion, a P/E ratio of 26.27 and a beta of 1.09.

MAG Silver Dividend Announcement

The company also recently disclosed a -- dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 19th will be issued a $0.18 dividend. The ex-dividend date is Monday, May 19th. This represents a dividend yield of 0.5%. MAG Silver's dividend payout ratio (DPR) is presently 101.41%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MAG. HC Wainwright reiterated a "buy" rating and set a $22.00 price target on shares of MAG Silver in a research note on Thursday, April 24th. Roth Capital set a $16.00 price objective on shares of MAG Silver in a research note on Tuesday, March 25th. Scotiabank restated a "sector perform" rating on shares of MAG Silver in a research note on Monday, April 14th. TD Securities lowered shares of MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Finally, Wall Street Zen upgraded shares of MAG Silver from a "sell" rating to a "hold" rating in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $18.13.

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.