MAG Silver Corporation (NYSEAMERICAN:MAG) Stake Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in shares of MAG Silver Corporation (NYSEAMERICAN:MAG) by 18.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 328,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in MAG Silver were worth $4,990,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. First Eagle Investment Management LLC raised its stake in MAG Silver by 46.4% during the 4th quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company’s stock valued at $106,379,000 after purchasing an additional 2,486,538 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of MAG Silver by 6.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,161,605 shares of the company’s stock valued at $15,762,000 after buying an additional 73,205 shares in the last quarter. Millennium Management LLC raised its position in MAG Silver by 3,324.7% during the fourth 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. Amundi lifted its stake in MAG Silver by 34.3% in the 4th quarter. Amundi now owns 507,941 shares of the company’s stock worth $7,264,000 after acquiring an additional 129,627 shares in the last quarter. Finally, Schroder Investment Management Group lifted its stake in MAG Silver by 38.4% in the 4th quarter. Schroder Investment Management Group now owns 323,100 shares of the company’s stock worth $4,297,000 after acquiring an additional 89,700 shares in the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

MAG Silver Price Performance

NYSEAMERICAN MAG opened at $21.63 on Friday. MAG Silver Corporation has a one year low of $11.29 and a one year high of $21.83. The firm has a market cap of $2.24 billion, a PE ratio of 24.58 and a beta of 0.75. The stock’s 50 day simple moving average is $19.18 and its 200 day simple moving average is $16.44.

MAG Silver Announces Dividend

The business also recently declared a — dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were paid a $0.18 dividend. This represents a dividend yield of 0.5%. The ex-dividend date was Monday, May 19th. MAG Silver’s dividend payout ratio (DPR) is currently 33.80%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MAG. Raymond James Financial reissued an “outperform” rating on shares of MAG Silver in a research report on Tuesday, March 25th. Canaccord Genuity Group lowered MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Monday, May 12th. Wall Street Zen raised MAG Silver from a “sell” rating to a “hold” rating in a research report on Monday, March 31st. Roth Mkm dropped their target price on shares of MAG Silver from $16.50 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Finally, TD Securities cut shares of MAG Silver from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $19.38.

MAG Silver 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.