Raymond James Financial Inc. Purchases New Holdings in MAG Silver Corp. (NYSEAMERICAN:MAG)

Raymond James Financial Inc. acquired a new position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 256,025 shares of the company’s stock, valued at approximately $3,482,000. Raymond James Financial Inc. owned approximately 0.25% of MAG Silver at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of MAG Silver during the 3rd quarter valued at $52,000. DF Dent & Co. Inc. purchased a new position in shares of MAG Silver during the 3rd quarter valued at $140,000. Aigen Investment Management LP purchased a new stake in shares of MAG Silver during the 4th quarter worth about $156,000. Verition Fund Management LLC acquired a new stake in shares of MAG Silver in the 3rd quarter valued at $168,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of MAG Silver in the fourth quarter worth about $240,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Stock Up 3.8 %

Shares of NYSEAMERICAN MAG opened at $16.63 on Friday. The stock has a 50 day moving average price of $15.67. MAG Silver Corp. has a 52-week low of $9.90 and a 52-week high of $18.27. The firm has a market cap of $1.72 billion, a P/E ratio of 23.42 and a beta of 1.09.

MAG Silver Announces Dividend

The business also recently declared a — dividend, which will be paid on Monday, April 21st. Investors of record on Friday, April 4th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, April 4th. This represents a yield of 1.5%.

Wall Street Analysts Forecast Growth

MAG has been the topic of several recent research reports. Roth Capital set a $16.00 price objective on MAG Silver in a report on Tuesday. HC Wainwright upped their target price on shares of MAG Silver from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday. Roth Mkm cut their price target on MAG Silver from $16.50 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, TD Securities raised MAG Silver to a “strong-buy” rating in a research note on Monday, March 10th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

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.