MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $29.84 Million Stock Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,197,341 shares of the company's stock after selling 357,381 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 2.13% of MAG Silver worth $29,839,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of MAG Silver by 211.5% during the 3rd quarter. Barclays PLC now owns 30,780 shares of the company's stock valued at $432,000 after acquiring an additional 20,899 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of MAG Silver by 69.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company's stock valued at $6,407,000 after acquiring an additional 186,445 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of MAG Silver during the 4th quarter valued at $240,000. Allspring Global Investments Holdings LLC lifted its position in shares of MAG Silver by 56.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 278,000 shares of the company's stock valued at $3,781,000 after acquiring an additional 100,500 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of MAG Silver by 0.7% during the 4th quarter. CIBC Asset Management Inc now owns 114,355 shares of the company's stock valued at $1,550,000 after acquiring an additional 755 shares during the last quarter. 52.50% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MAG has been the subject of several recent analyst reports. StockNews.com raised MAG Silver from a "sell" rating to a "hold" rating in a research report on Monday, March 31st. Raymond James reaffirmed an "outperform" rating on shares of MAG Silver in a research report on Tuesday, March 25th. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 target price on shares of MAG Silver in a research report on Thursday, April 24th. Roth Mkm decreased their target price on MAG Silver from $16.50 to $16.00 and set a "neutral" rating for the company in a research report on Tuesday, March 25th. Finally, Scotiabank reaffirmed a "sector perform" rating on shares of MAG Silver in a research report on Monday, April 14th. Five analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $18.13.

MAG Silver Stock Performance

Shares of NYSEAMERICAN:MAG traded down $0.13 during midday trading on Friday, hitting $17.84. The company's stock had a trading volume of 3,970,856 shares, compared to its average volume of 1,005,211. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 25.13 and a beta of 1.09. The stock's 50 day simple moving average is $15.61 and its 200 day simple moving average is $15.40. MAG Silver Corp. has a fifty-two week low of $11.29 and a fifty-two week high of $19.17.

MAG Silver Announces Dividend

The company also recently announced a -- dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 19th will be given a dividend of $0.18 per share. This represents a yield of 0.5%. The ex-dividend date of this dividend is Monday, May 19th. MAG Silver's dividend payout ratio (DPR) is presently 101.41%.

MAG Silver Company 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.