Raymond James Financial Inc. Invests $3.48 Million in MAG Silver Corp. (NYSEAMERICAN:MAG)

Raymond James Financial Inc. acquired a new stake in shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 256,025 shares of the company's stock, valued at approximately $3,482,000. Raymond James Financial Inc. owned about 0.25% of MAG Silver as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MAG. Quantbot Technologies LP purchased a new stake in shares of MAG Silver in the third quarter worth about $52,000. DF Dent & Co. Inc. bought a new stake in MAG Silver in the 3rd quarter worth approximately $140,000. Aigen Investment Management LP bought a new stake in shares of MAG Silver in the 4th quarter worth approximately $156,000. Verition Fund Management LLC purchased a new stake in MAG Silver during the third quarter valued at about $168,000. Finally, Strategic Financial Concepts LLC purchased a new stake in MAG Silver during the 4th quarter valued at about $240,000. Institutional investors own 52.50% of the company's stock.

Analysts Set New Price Targets

MAG has been the subject of a number of analyst reports. TD Securities raised MAG Silver to a "strong-buy" rating in a research note on Monday, March 10th. Roth Mkm lowered their price objective on shares of MAG Silver from $16.50 to $16.00 and set a "neutral" rating for the company in a research note on Tuesday, March 25th. HC Wainwright raised their target price on MAG Silver from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. Raymond James restated an "outperform" rating on shares of MAG Silver in a report on Tuesday. Finally, Roth Capital set a $16.00 price objective on MAG Silver in a report on Tuesday, March 25th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

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MAG Silver Price Performance

MAG traded down $0.93 on Friday, hitting $15.70. The company had a trading volume of 1,089,570 shares, compared to its average volume of 628,689. The business has a fifty day simple moving average of $15.70. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 22.11 and a beta of 1.09. MAG Silver Corp. has a 52-week low of $10.62 and a 52-week high of $18.27.

MAG Silver Announces Dividend

The company also recently declared a -- dividend, which will be paid on Monday, April 21st. Investors of record on Friday, April 4th will be given 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%.

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.