22,274 Shares in MAG Silver Corporation $MAG Bought by Cetera Investment Advisers

Cetera Investment Advisers purchased a new position in shares of MAG Silver Corporation (NYSEAMERICAN:MAG) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 22,274 shares of the company’s stock, valued at approximately $340,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings in shares of MAG Silver by 3,324.7% in the 4th quarter. Millennium Management LLC now owns 886,203 shares of the company’s stock valued at $12,052,000 after buying an additional 860,326 shares during the period. Alps Advisors Inc. grew 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 valued at $6,000,000 after purchasing an additional 344,290 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of MAG Silver in the fourth quarter valued at approximately $3,482,000. U S Global Investors Inc. purchased a new stake in shares of MAG Silver in the first quarter valued at approximately $1,146,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of MAG Silver by 18.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 328,000 shares of the company’s stock valued at $4,990,000 after purchasing an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Stock Performance

MAG opened at $22.48 on Wednesday. The business’s 50-day simple moving average is $21.67 and its 200-day simple moving average is $17.96. MAG Silver Corporation has a one year low of $11.72 and a one year high of $23.42. The stock has a market capitalization of $2.33 billion, a P/E ratio of 22.71 and a beta of 0.69.

MAG Silver Announces Dividend

The business also recently declared a dividend, which will be paid on Monday, September 1st. Investors of record on Tuesday, August 19th will be issued a dividend of $0.124 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a dividend yield of 236.0%. MAG Silver’s dividend payout ratio (DPR) is currently 33.80%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. TD Securities lowered MAG Silver from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, May 22nd. HC Wainwright restated a “neutral” rating and set a $22.00 price target on shares of MAG Silver in a research report on Thursday, July 24th. Roth Capital reiterated a “neutral” rating and issued a $23.00 price objective (up from $22.00) on shares of MAG Silver in a research note on Tuesday, August 12th. Canaccord Genuity Group cut MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 12th. Finally, Scotiabank reiterated an “outperform” rating on shares of MAG Silver in a research note on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.00.

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.