BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 129.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 95,369 shares of the company's stock after purchasing an additional 53,781 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.09% of MAG Silver worth $1,451,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new stake in MAG Silver in the first quarter worth $37,000. Northwest & Ethical Investments L.P. increased its position in MAG Silver by 39.3% during the first 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 during the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in shares of MAG Silver in the fourth quarter valued at $156,000. D.A. Davidson & CO. bought a new stake in shares of MAG Silver in the 1st quarter worth about $167,000. Finally, Everett Harris & Co. CA bought a new stake in shares of MAG Silver in the 1st quarter worth about $177,000. Institutional investors own 52.50% of the company's stock.
MAG Silver Stock Performance
MAG Silver stock traded up $0.55 during trading hours on Friday, hitting $24.52. The company had a trading volume of 644,315 shares, compared to its average volume of 1,903,294. The firm has a market cap of $2.54 billion, a P/E ratio of 24.77 and a beta of 0.69. MAG Silver Corporation has a 1 year low of $11.72 and a 1 year high of $24.55. The company has a 50-day moving average price of $22.04 and a two-hundred day moving average price of $18.47.
MAG Silver Dividend Announcement
The firm also recently announced a dividend, which will be paid on Monday, September 1st. Shareholders of record on Tuesday, August 19th will be given a dividend of $0.124 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a yield of 236.0%. MAG Silver's dividend payout ratio (DPR) is 33.80%.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on MAG. Scotiabank restated an "outperform" rating on shares of MAG Silver in a report on Tuesday, August 12th. Roth Capital restated a "neutral" rating and issued a $23.00 target price (up previously from $22.00) on shares of MAG Silver in a report on Tuesday, August 12th. HC Wainwright restated a "neutral" rating and issued a $22.00 target price on shares of MAG Silver in a report on Thursday, July 24th. TD Securities lowered shares of MAG Silver from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, May 22nd. Finally, Canaccord Genuity Group lowered shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $21.00.
View Our Latest Analysis on MAG Silver
MAG Silver Profile
(
Free Report)
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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