Gabelli Funds LLC Has $4.61 Million Holdings in MAG Silver Corp. (NYSEAMERICAN:MAG)

Gabelli Funds LLC reduced its holdings in MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 26.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 339,000 shares of the company's stock after selling 120,000 shares during the period. Gabelli Funds LLC owned approximately 0.33% of MAG Silver worth $4,610,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Aigen Investment Management LP acquired a new stake in shares of MAG Silver during the 4th quarter worth approximately $156,000. Strategic Financial Concepts LLC acquired a new stake in shares of MAG Silver during the 4th quarter worth approximately $240,000. Pictet Asset Management Holding SA grew its holdings in shares of MAG Silver by 20.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 17,792 shares of the company's stock worth $242,000 after purchasing an additional 3,029 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of MAG Silver by 498.1% during the 4th quarter. Quantbot Technologies LP now owns 22,089 shares of the company's stock worth $300,000 after purchasing an additional 18,396 shares in the last quarter. Finally, Rossby Financial LCC acquired a new stake in shares of MAG Silver during the 4th quarter worth approximately $326,000. 52.50% of the stock is owned by institutional investors.

MAG Silver Trading Up 1.8 %

Shares of MAG Silver stock traded up $0.27 during mid-day trading on Wednesday, reaching $15.37. 306,806 shares of the stock were exchanged, compared to its average volume of 681,310. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 21.65 and a beta of 1.09. The firm has a 50-day simple moving average of $15.51 and a 200 day simple moving average of $15.23. MAG Silver Corp. has a fifty-two week low of $11.29 and a fifty-two week high of $18.27.

MAG Silver Announces Dividend

The business also recently disclosed a -- dividend, which was paid on Monday, April 21st. Shareholders of record on Friday, April 4th were given a $0.18 dividend. This represents a yield of 1.5%. The ex-dividend date of this dividend was Friday, April 4th. MAG Silver's payout ratio is presently 101.41%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. TD Securities raised MAG Silver to a "strong-buy" rating in a report on Monday, March 10th. HC Wainwright lifted their price objective on MAG Silver from $21.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, March 25th. Raymond James reiterated an "outperform" rating on shares of MAG Silver in a research report on Tuesday, March 25th. Scotiabank reissued a "sector perform" rating on shares of MAG Silver in a report on Monday, April 14th. Finally, StockNews.com upgraded shares of MAG Silver from a "sell" rating to a "hold" rating in a research report on Monday, March 31st. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.60.

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.