TD Asset Management Inc Has $16.98 Million Stock Position in MAG Silver Corporation (NYSEAMERICAN:MAG)

Key Points

• TD Asset Management Inc increased its stake in MAG Silver Corporation by 4.1%, holding 1,116,157 shares worth approximately $16.98 million after acquiring an additional 43,822 shares in the first quarter.
• The company recently announced a $0.18 per share dividend, paid on May 28th, resulting in a dividend yield of 0.5% with a payout ratio of 33.80%.
• MAG Silver's stock has a 52-week price range between $11.29 and $22.66, and it currently has an average rating of "Hold" from analysts with a target price of $19.38.

TD Asset Management Inc boosted its position in MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,116,157 shares of the company's stock after purchasing an additional 43,822 shares during the quarter. TD Asset Management Inc owned about 1.08% of MAG Silver worth $16,976,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC increased its position 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 in the last quarter. Alps Advisors Inc. increased its position 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 worth $6,000,000 after acquiring an additional 344,290 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of MAG Silver in the fourth quarter worth approximately $3,482,000. Schroder Investment Management Group increased its position in shares of MAG Silver by 38.4% in the fourth quarter. Schroder Investment Management Group now owns 323,100 shares of the company's stock worth $4,297,000 after acquiring an additional 89,700 shares in the last quarter. Finally, U S Global Investors Inc. purchased a new position in shares of MAG Silver in the first quarter worth approximately $1,146,000. 52.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. TD Securities cut shares of MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Canaccord Genuity Group cut shares of MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. Scotiabank reiterated a "sector perform" rating on shares of MAG Silver in a research note on Monday, April 14th. HC Wainwright reiterated a "neutral" rating and issued a $22.00 target price on shares of MAG Silver in a research note on Thursday, July 24th. Finally, Roth Capital lifted their target price on shares of MAG Silver from $18.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, MAG Silver presently has an average rating of "Hold" and a consensus target price of $19.38.

MAG Silver Stock Down 0.4%

NYSEAMERICAN:MAG traded down $0.09 during mid-day trading on Friday, reaching $20.33. 705,910 shares of the company were exchanged, compared to its average volume of 1,232,487. MAG Silver Corporation has a 12 month low of $11.29 and a 12 month high of $22.66. The company has a fifty day moving average of $21.02 and a 200 day moving average of $17.20. The stock has a market cap of $2.10 billion, a PE ratio of 23.10 and a beta of 0.69.

MAG Silver Announces Dividend

The firm also recently announced a -- dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were given a dividend of $0.18 per share. The ex-dividend date was Monday, May 19th. This represents a yield of 50.0%. MAG Silver's dividend payout ratio is presently 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.