256,025 Shares in MAG Silver Corp. (NYSEAMERICAN:MAG) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in MAG Silver Corp. (NYSEAMERICAN:MAG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 256,025 shares of the company’s stock, valued at approximately $3,482,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Tidal Investments LLC raised its position in shares of MAG Silver by 3.6% in the 3rd quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock worth $39,453,000 after purchasing an additional 98,312 shares during the last quarter. Sprott Inc. grew its stake in MAG Silver by 8.5% during the fourth quarter. Sprott Inc. now owns 2,649,507 shares of the company’s stock valued at $36,004,000 after acquiring an additional 208,252 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in MAG Silver by 69.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock valued at $6,407,000 after buying an additional 186,445 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of MAG Silver by 199.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock valued at $5,374,000 after buying an additional 254,553 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of MAG Silver by 56.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 278,000 shares of the company’s stock valued at $3,781,000 after purchasing an additional 100,500 shares during the last quarter. Institutional investors own 52.50% of the company’s stock.

Wall Street Analyst Weigh In

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

MAG Silver Trading Up 3.8 %

Shares of NYSEAMERICAN MAG opened at $16.63 on Friday. The stock has a market cap of $1.72 billion, a P/E ratio of 23.42 and a beta of 1.09. The business’s 50-day moving average is $15.67. MAG Silver Corp. has a 1-year low of $9.90 and a 1-year high of $18.27.

MAG Silver Announces Dividend

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

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.