MAG Silver Corporation $MAG Stock Position Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in shares of MAG Silver Corporation (NYSEAMERICAN:MAG) by 15.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 278,000 shares of the company’s stock after selling 50,000 shares during the period. Allspring Global Investments Holdings LLC owned about 0.27% of MAG Silver worth $5,910,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. D.A. Davidson & CO. bought a new position in MAG Silver during the 1st quarter worth approximately $167,000. Alps Advisors Inc. lifted its holdings in shares of MAG Silver by 711.6% in the 1st quarter. Alps Advisors Inc. now owns 392,675 shares of the company’s stock worth $6,000,000 after purchasing an additional 344,290 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of MAG Silver by 8.6% in the 1st quarter. Royal Bank of Canada now owns 1,660,583 shares of the company’s stock worth $25,374,000 after purchasing an additional 131,813 shares during the last quarter. Ninepoint Partners LP bought a new stake in shares of MAG Silver in the 1st quarter worth approximately $657,000. Finally, Amundi lifted its holdings in shares of MAG Silver by 39.8% in the 1st quarter. Amundi now owns 710,000 shares of the company’s stock worth $10,771,000 after purchasing an additional 202,059 shares during the last quarter. Institutional investors own 52.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MAG. HC Wainwright reissued a “neutral” rating and issued a $22.00 price target on shares of MAG Silver in a report on Thursday, July 24th. Roth Capital reissued a “neutral” rating and issued a $23.00 price target (up previously from $22.00) on shares of MAG Silver in a report on Tuesday, August 12th. Finally, Scotiabank reissued an “outperform” rating on shares of MAG Silver in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.00.

MAG Silver Price Performance

Shares of MAG Silver stock opened at $24.47 on Monday. The business’s fifty day moving average price is $24.14 and its two-hundred day moving average price is $20.77. The company has a market capitalization of $2.54 billion, a P/E ratio of 24.72 and a beta of 0.73. MAG Silver Corporation has a 1-year low of $11.72 and a 1-year high of $25.09.

MAG Silver Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, September 1st. Shareholders of record on Tuesday, August 19th were paid a dividend of $0.124 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a yield of 236.0%. MAG Silver’s payout ratio is presently 33.80%.

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.