Rathbones Group PLC Purchases 11,030 Shares of MAG Silver Corporation $MAG

Rathbones Group PLC grew its position in shares of MAG Silver Corporation (NYSEAMERICAN:MAG) by 65.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,987 shares of the company’s stock after buying an additional 11,030 shares during the quarter. Rathbones Group PLC’s holdings in MAG Silver were worth $592,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of MAG. Royal Bank of Canada lifted its holdings in MAG Silver by 8.6% during the first quarter. Royal Bank of Canada now owns 1,660,583 shares of the company’s stock worth $25,374,000 after acquiring an additional 131,813 shares during the period. Ninepoint Partners LP purchased a new stake in shares of MAG Silver during the 1st quarter valued at $657,000. Amundi raised its stake in shares of MAG Silver by 39.8% during 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 period. Cetera Investment Advisers purchased a new position in shares of MAG Silver in the 1st quarter worth about $340,000. Finally, Raymond James Financial Inc. grew its position in MAG Silver by 0.7% during the first quarter. Raymond James Financial Inc. now owns 257,763 shares of the company’s stock valued at $3,939,000 after buying an additional 1,738 shares during the period. 52.50% of the stock is owned by institutional investors.

MAG Silver Trading Down 1.2%

MAG opened at $24.47 on Wednesday. The company has a 50 day moving average of $24.47 and a 200 day moving average of $21.98. MAG Silver Corporation has a 12 month low of $11.72 and a 12 month high of $25.09. The company has a market cap of $2.54 billion, a PE ratio of 24.72 and a beta of 0.73.

MAG Silver Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have commented on MAG shares. Roth Capital reaffirmed a “neutral” rating and issued a $23.00 price objective (up previously from $22.00) on shares of MAG Silver in a research report on Tuesday, August 12th. HC Wainwright reissued a “neutral” rating and issued a $22.00 target price on shares of MAG Silver in a research report on Thursday, July 24th. Finally, Scotiabank restated an “outperform” rating on shares of MAG Silver in a research note on Tuesday, August 12th. Two 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. According to MarketBeat, MAG Silver currently has an average rating of “Hold” and a consensus price target 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.