Raymond James Financial Inc. Purchases New Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

Raymond James Financial Inc. acquired a new position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 256,025 shares of the company's stock, valued at approximately $3,482,000. Raymond James Financial Inc. owned approximately 0.25% of MAG Silver as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Aigen Investment Management LP acquired a new stake in shares of MAG Silver in the 4th quarter valued at approximately $156,000. Strategic Financial Concepts LLC acquired a new stake in MAG Silver in the fourth quarter valued at approximately $240,000. Pictet Asset Management Holding SA grew its stake in shares of MAG Silver by 20.5% during 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. Quantbot Technologies LP increased its holdings in shares of MAG Silver by 498.1% during the fourth quarter. Quantbot Technologies LP now owns 22,089 shares of the company's stock worth $300,000 after buying an additional 18,396 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of MAG Silver by 211.5% during the third quarter. Barclays PLC now owns 30,780 shares of the company's stock worth $432,000 after buying an additional 20,899 shares in the last quarter. 52.50% of the stock is owned by institutional investors.

MAG Silver Stock Down 0.9 %

MAG traded down $0.13 during trading on Friday, reaching $14.61. 147,752 shares of the stock traded hands, compared to its average volume of 669,351. The stock's 50-day moving average is $15.36 and its 200 day moving average is $15.29. MAG Silver Corp. has a 12 month low of $11.29 and a 12 month high of $18.27. The stock has a market capitalization of $1.51 billion, a PE ratio of 20.58 and a beta of 1.09.

MAG Silver Announces Dividend

The business also recently declared a -- dividend, which was paid on Monday, April 21st. Shareholders of record on Friday, April 4th were issued a $0.18 dividend. This represents a yield of 1.5%. The ex-dividend date was Friday, April 4th. MAG Silver's payout ratio is 101.41%.

Analyst Ratings Changes

A number of analysts have recently commented on MAG shares. Roth Mkm cut their price target on MAG Silver from $16.50 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. StockNews.com upgraded shares of MAG Silver from a "sell" rating to a "hold" rating in a research report on Monday, March 31st. Scotiabank reissued a "sector perform" rating on shares of MAG Silver in a report on Monday, April 14th. HC Wainwright reaffirmed a "buy" rating and set a $22.00 price target on shares of MAG Silver in a research note on Thursday, April 24th. Finally, Raymond James reissued an "outperform" rating on shares of MAG Silver in a research note on Tuesday, March 25th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, MAG Silver has a consensus rating of "Moderate Buy" and a consensus price target of $18.60.

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.