TD Asset Management Inc Has $16.98 Million Stock Holdings 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 raised its position in shares of MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 4.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,116,157 shares of the company's stock after buying an additional 43,822 shares during the quarter. TD Asset Management Inc owned 1.08% of MAG Silver worth $16,976,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. D. E. Shaw & Co. Inc. acquired a new position in shares of MAG Silver in the 4th quarter valued at about $156,000. D.A. Davidson & CO. acquired a new position in shares of MAG Silver in the 1st quarter valued at about $167,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of MAG Silver in the 4th quarter valued at about $188,000. Tradition Wealth Management LLC acquired a new position in shares of MAG Silver in the 4th quarter valued at about $222,000. Finally, Pictet Asset Management Holding SA increased its holdings in MAG Silver by 20.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 17,792 shares of the company's stock worth $242,000 after buying an additional 3,029 shares during the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

MAG Silver Stock Up 2.8%

Shares of MAG traded up $0.57 during trading hours on Monday, hitting $20.90. 378,200 shares of the company were exchanged, compared to its average volume of 1,242,784. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 23.75 and a beta of 0.69. MAG Silver Corporation has a fifty-two week low of $11.29 and a fifty-two week high of $22.66. The firm's fifty day moving average is $21.02 and its 200 day moving average is $17.22.

MAG Silver Announces Dividend

The firm also recently disclosed a -- dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were given a dividend of $0.18 per share. This represents a dividend yield of 50.0%. The ex-dividend date was Monday, May 19th. MAG Silver's dividend payout ratio is currently 33.80%.

Analyst Ratings Changes

MAG has been the topic of a number of research reports. Scotiabank restated a "sector perform" rating on shares of MAG Silver in a report on Monday, April 14th. 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. HC Wainwright reiterated a "neutral" rating and set a $22.00 price target on shares of MAG Silver in a report on Thursday, July 24th. Finally, Roth Capital increased their price target on MAG Silver from $18.00 to $21.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $19.38.

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.