81,883 Shares in MAG Silver Corporation $MAG Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired 81,883 shares of MAG Silver Corporation, valued at approximately $1,245,000, representing around 0.08% ownership of the company as of the end of the last quarter.
• Several institutional investors, including Millennium Management and Alps Advisors, have significantly increased their stakes in MAG Silver, reflecting growing interest in the company.
• MAG Silver announced a dividend of $0.124 per share, payable to shareholders, with a strong dividend yield of 236.0%.

Nuveen LLC purchased a new stake in MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 81,883 shares of the company's stock, valued at approximately $1,245,000. Nuveen LLC owned about 0.08% of MAG Silver as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of MAG. Marshall Wace LLP bought a new position in shares of MAG Silver in the 4th quarter valued at $274,000. Susquehanna Fundamental Investments LLC bought a new position in shares of MAG Silver in the 4th quarter valued at $188,000. Bank of America Corp DE increased its holdings in MAG Silver by 5.1% in the fourth quarter. Bank of America Corp DE now owns 49,779 shares of the company's stock valued at $677,000 after purchasing an additional 2,399 shares during the period. D. E. Shaw & Co. Inc. acquired a new stake in MAG Silver in the fourth quarter valued at $156,000. Finally, Eschler Asset Management LLP increased its holdings in MAG Silver by 83.3% in the fourth quarter. Eschler Asset Management LLP now owns 55,000 shares of the company's stock valued at $748,000 after purchasing an additional 25,000 shares during the period. 52.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MAG shares. Canaccord Genuity Group downgraded MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. TD Securities downgraded MAG Silver from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, May 22nd. 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. 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. Finally, Scotiabank restated an "outperform" rating 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 given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, MAG Silver has a consensus rating of "Hold" and a consensus price target of $21.00.

MAG Silver Trading Down 1.2%

Shares of MAG traded down $0.29 during mid-day trading on Thursday, reaching $24.47. 2,177,252 shares of the stock traded hands, compared to its average volume of 1,858,420. The firm has a fifty day moving average price of $22.24 and a 200 day moving average price of $18.70. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 24.72 and a beta of 0.73. MAG Silver Corporation has a 1 year low of $11.72 and a 1 year high of $25.09.

MAG Silver Dividend Announcement

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