MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 258,379 Shares of MAG Silver Corporation $MAG

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in MAG Silver Corporation by 11.8%, acquiring an additional 258,379 shares, bringing its total to 2,455,720 shares valued at approximately $37.35 million.
• MAG Silver recently declared a dividend of $0.124 per share, reflecting a significant dividend yield of 236.0% and a payout ratio of 33.80%.
• Brokerages have given mixed ratings on MAG Silver, with two analysts recommending a Buy rating and several others issuing Hold or Sell ratings, resulting in a consensus price target of $21.00.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 11.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,455,720 shares of the company's stock after acquiring an additional 258,379 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 2.38% of MAG Silver worth $37,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in MAG Silver by 18.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 328,000 shares of the company's stock valued at $4,990,000 after purchasing an additional 50,000 shares during the period. D.A. Davidson & CO. purchased a new position in shares of MAG Silver during the first quarter worth about $167,000. Alps Advisors Inc. grew its holdings in shares of MAG Silver by 711.6% during the first quarter. Alps Advisors Inc. now owns 392,675 shares of the company's stock worth $6,000,000 after purchasing an additional 344,290 shares in the last quarter. Ninepoint Partners LP purchased a new position in shares of MAG Silver during the first quarter worth about $657,000. Finally, Two Sigma Investments LP bought a new position in shares of MAG Silver in the 4th quarter worth $401,000. 52.50% of the stock is owned by institutional investors.

MAG Silver Stock Down 1.2%

Shares of MAG Silver stock opened at $24.47 on Friday. The company has a market cap of $2.54 billion, a PE ratio of 24.72 and a beta of 0.73. The business has a 50 day moving average of $22.37 and a 200 day moving average of $18.83. MAG Silver Corporation has a 52 week low of $11.72 and a 52 week high of $25.09.

MAG Silver Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, September 1st. Investors of record on Tuesday, August 19th were given a dividend of $0.124 per share. The ex-dividend date was Monday, August 18th. This represents a dividend yield of 236.0%. MAG Silver's payout ratio is currently 33.80%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MAG. Scotiabank reissued an "outperform" rating on shares of MAG Silver in a report on Tuesday, August 12th. HC Wainwright restated a "neutral" rating and issued a $22.00 price objective 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. 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, Roth Capital restated a "neutral" rating and issued a $23.00 price objective (up from $22.00) on shares of MAG Silver in a report on Tuesday, August 12th. Two investment 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's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $21.00.

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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