43,000 Shares in MAG Silver Corporation (NYSEAMERICAN:MAG) Purchased by Ninepoint Partners LP

Ninepoint Partners LP purchased a new position in shares of MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 43,000 shares of the company's stock, valued at approximately $657,000.

A number of other institutional investors have also modified their holdings of the company. Millennium Management LLC increased its holdings in MAG Silver by 3,324.7% during the 4th quarter. Millennium Management LLC now owns 886,203 shares of the company's stock worth $12,052,000 after purchasing an additional 860,326 shares during the period. Alps Advisors Inc. increased its position 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. Allspring Global Investments Holdings LLC boosted its stake in MAG Silver by 18.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 328,000 shares of the company's stock worth $4,990,000 after purchasing an additional 50,000 shares during the period. Schroder Investment Management Group grew its holdings in shares of MAG Silver by 38.4% during the fourth quarter. Schroder Investment Management Group now owns 323,100 shares of the company's stock worth $4,297,000 after buying an additional 89,700 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of MAG Silver in the fourth quarter valued at approximately $3,482,000. 52.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MAG shares. Scotiabank reaffirmed a "sector perform" rating on shares of MAG Silver in a research note on Monday, April 14th. Canaccord Genuity Group lowered MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Roth Capital increased their price target on MAG Silver from $18.00 to $21.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. HC Wainwright restated a "neutral" rating and issued a $22.00 price target on shares of MAG Silver in a report on Thursday. Finally, Wall Street Zen upgraded shares of MAG Silver from a "sell" rating to a "hold" rating in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $19.38.

MAG Silver Stock Performance

Shares of MAG Silver stock traded down $0.16 during trading hours on Friday, reaching $21.54. The company's stock had a trading volume of 1,063,395 shares, compared to its average volume of 1,289,699. The company's 50 day simple moving average is $20.79 and its 200 day simple moving average is $17.02. MAG Silver Corporation has a one year low of $11.29 and a one year high of $22.66. The stock has a market cap of $2.23 billion, a P/E ratio of 24.48 and a beta of 0.75.

MAG Silver Announces Dividend

The company also recently declared a -- dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a dividend yield of 0.5%. MAG Silver's dividend payout ratio is currently 33.80%.

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.