Nuveen LLC Acquires Shares of 81,883 MAG Silver Corporation $MAG

Nuveen LLC acquired a new stake in MAG Silver Corporation (NYSEAMERICAN:MAG) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 81,883 shares of the company’s stock, valued at approximately $1,245,000. Nuveen LLC owned approximately 0.08% of MAG Silver at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAG. Millennium Management LLC increased its position in 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 acquiring an additional 860,326 shares in the last quarter. Alps Advisors Inc. increased its position in MAG Silver by 711.6% in the 1st quarter. Alps Advisors Inc. now owns 392,675 shares of the company’s stock valued at $6,000,000 after acquiring an additional 344,290 shares in the last quarter. Monaco Asset Management SAM increased its position in MAG Silver by 127.6% in the 1st quarter. Monaco Asset Management SAM now owns 526,000 shares of the company’s stock valued at $8,034,000 after acquiring an additional 294,878 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in MAG Silver by 20.5% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,399,405 shares of the company’s stock valued at $21,290,000 after acquiring an additional 237,800 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in MAG Silver by 58.7% in the 1st quarter. Mackenzie Financial Corp now owns 521,795 shares of the company’s stock valued at $7,937,000 after acquiring an additional 192,991 shares in the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

MAG Silver Price Performance

Shares of NYSEAMERICAN MAG opened at $24.52 on Monday. The company has a 50 day simple moving average of $22.04 and a 200 day simple moving average of $18.52. The firm has a market cap of $2.54 billion, a PE ratio of 24.77 and a beta of 0.72. MAG Silver Corporation has a 1 year low of $11.72 and a 1 year high of $24.55.

MAG Silver Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Monday, September 1st. Stockholders of record on Tuesday, August 19th will be given 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 33.80%.

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.