Rossby Financial LCC Buys Shares of 24,000 MAG Silver Corp. (NYSEAMERICAN:MAG)

Rossby Financial LCC purchased a new position in MAG Silver Corp. (NYSEAMERICAN:MAG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,000 shares of the company’s stock, valued at approximately $326,000.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of MAG Silver during the fourth quarter worth $3,482,000. Geode Capital Management LLC increased its holdings in MAG Silver by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 50,088 shares of the company’s stock worth $687,000 after purchasing an additional 1,245 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of MAG Silver by 38.4% in the 4th quarter. Schroder Investment Management Group now owns 323,100 shares of the company’s stock valued at $4,297,000 after purchasing an additional 89,700 shares during the period. Pictet Asset Management Holding SA raised its stake in shares of MAG Silver by 20.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 17,792 shares of the company’s stock valued at $242,000 after purchasing an additional 3,029 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in shares of MAG Silver by 498.1% in the fourth quarter. Quantbot Technologies LP now owns 22,089 shares of the company’s stock valued at $300,000 after purchasing an additional 18,396 shares in the last quarter. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Price Performance

MAG Silver stock opened at $15.82 on Tuesday. The company’s 50-day moving average is $15.57 and its 200-day moving average is $15.20. The firm has a market capitalization of $1.64 billion, a PE ratio of 22.28 and a beta of 1.09. MAG Silver Corp. has a fifty-two week low of $11.29 and a fifty-two week high of $18.27.

MAG Silver Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Monday, April 21st. Shareholders of record on Friday, April 4th will be paid a $0.18 dividend. The ex-dividend date is Friday, April 4th. This represents a yield of 1.5%. MAG Silver’s dividend payout ratio is 101.41%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MAG shares. Scotiabank lifted their target price on MAG Silver from $18.00 to $18.50 and gave the company a “sector outperform” rating in a research report on Monday. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a report on Monday, March 31st. Raymond James restated an “outperform” rating on shares of MAG Silver in a report on Tuesday, March 25th. Roth Capital set a $16.00 target price on shares of MAG Silver in a research report on Tuesday, March 25th. Finally, TD Securities raised shares of MAG Silver to a “strong-buy” rating in a research report on Monday, March 10th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.60.

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.