BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $1.45 Million Stake in MAG Silver Corporation $MAG

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in MAG Silver Corporation by 129.3% in the 1st quarter, owning approximately $1.45 million worth of shares.
• The company recently declared a dividend yield of 236.0%, with a payout of $0.124 to shareholders on record by August 19th.
• MAG Silver's stock has a market capitalization of $2.49 billion, and its average analyst rating is "Hold" with a target price of $21.00.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 129.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,369 shares of the company's stock after acquiring 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 reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MAG. Millennium Management LLC grew its stake in shares of MAG Silver by 3,324.7% in the fourth quarter. Millennium Management LLC now owns 886,203 shares of the company's stock worth $12,052,000 after acquiring an additional 860,326 shares during the last quarter. Alps Advisors Inc. raised its stake 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. Monaco Asset Management SAM raised its stake in shares of MAG Silver by 127.6% in the first quarter. Monaco Asset Management SAM now owns 526,000 shares of the company's stock valued at $8,034,000 after purchasing an additional 294,878 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of MAG Silver by 20.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,399,405 shares of the company's stock valued at $21,290,000 after purchasing an additional 237,800 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of MAG Silver by 58.7% in the first quarter. Mackenzie Financial Corp now owns 521,795 shares of the company's stock valued at $7,937,000 after purchasing an additional 192,991 shares in the last quarter. Institutional investors and hedge funds own 52.50% of the company's stock.

Wall Street Analyst Weigh In

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

MAG Silver Trading Up 2.3%

MAG stock traded up $0.55 during trading on Monday, hitting $24.52. The company had a trading volume of 644,315 shares, compared to its average volume of 1,894,205. The company has a fifty day moving average price of $22.10 and a two-hundred day moving average price of $18.58. MAG Silver Corporation has a fifty-two week low of $11.72 and a fifty-two week high of $24.55. The company has a market cap of $2.54 billion, a P/E ratio of 24.77 and a beta of 0.72.

MAG Silver Announces Dividend

The firm also recently declared a dividend, which will be paid on Monday, September 1st. Investors of record on Tuesday, August 19th will be issued a dividend of $0.124 per share. This represents a yield of 236.0%. The ex-dividend date of this dividend is Monday, August 18th. MAG Silver's dividend payout ratio (DPR) is currently 33.80%.

MAG Silver Company 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.