Envestnet Asset Management Inc. Purchases 3,109 Shares of MAG Silver Corporation (NYSEAMERICAN:MAG)

Envestnet Asset Management Inc. grew its holdings in shares of MAG Silver Corporation (NYSEAMERICAN:MAG) by 12.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,164 shares of the company’s stock after purchasing an additional 3,109 shares during the quarter. Envestnet Asset Management Inc.’s holdings in MAG Silver were worth $430,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. D.A. Davidson & CO. purchased a new position in MAG Silver in the 1st quarter valued at approximately $167,000. D. E. Shaw & Co. Inc. purchased a new position in shares of MAG Silver during the fourth quarter worth approximately $156,000. Susquehanna Fundamental Investments LLC bought a new position in shares of MAG Silver during the fourth quarter valued at about $188,000. Tradition Wealth Management LLC purchased a new stake in shares of MAG Silver during the fourth quarter valued at approximately $222,000. Finally, Pictet Asset Management Holding SA increased its position in shares of MAG Silver by 20.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 17,792 shares of the company’s stock valued at $242,000 after acquiring an additional 3,029 shares during the period. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

MAG Silver Trading Up 0.1%

Shares of MAG opened at $21.68 on Thursday. The stock has a fifty day moving average price of $21.18 and a 200-day moving average price of $17.34. The firm has a market cap of $2.24 billion, a PE ratio of 24.64 and a beta of 0.69. MAG Silver Corporation has a 12 month low of $11.72 and a 12 month high of $22.66.

MAG Silver Announces Dividend

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

Analysts Set New Price Targets

MAG has been the subject of several research reports. TD Securities lowered shares of MAG Silver from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, May 22nd. HC Wainwright reaffirmed a “neutral” rating and issued a $22.00 price objective on shares of MAG Silver in a research report on Thursday, July 24th. Canaccord Genuity Group downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 12th. Roth Capital upped their target price on shares of MAG Silver from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, July 1st. Finally, Scotiabank restated a “sector perform” rating on shares of MAG Silver in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.38.

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.