Rossby Financial LCC Acquires New Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAG. Aigen Investment Management LP bought a new position in MAG Silver in the 4th quarter worth approximately $156,000. Verition Fund Management LLC purchased a new position in shares of MAG Silver in the third quarter worth $168,000. Strategic Financial Concepts LLC bought a new position in shares of MAG Silver during the fourth quarter worth $240,000. Pictet Asset Management Holding SA grew its stake in MAG Silver by 20.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 17,792 shares of the company's stock valued at $242,000 after acquiring an additional 3,029 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in MAG Silver by 498.1% in the 4th quarter. Quantbot Technologies LP now owns 22,089 shares of the company's stock valued at $300,000 after acquiring an additional 18,396 shares during the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

MAG Silver Trading Down 2.9 %

Shares of MAG traded down $0.47 during trading hours on Friday, hitting $15.53. The company had a trading volume of 577,947 shares, compared to its average volume of 686,609. The company has a market capitalization of $1.61 billion, a PE ratio of 21.87 and a beta of 1.09. MAG Silver Corp. has a one year low of $11.29 and a one year high of $18.27. The company's fifty day moving average price is $15.55 and its two-hundred day moving average price is $15.23.

MAG Silver Announces Dividend

The company also recently declared a -- dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, April 4th will be issued a $0.18 dividend. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, April 4th. MAG Silver's dividend payout ratio is currently 101.41%.

Analysts Set New Price Targets

MAG has been the topic of a number of analyst reports. Raymond James reiterated an "outperform" rating on shares of MAG Silver in a research report on Tuesday, March 25th. TD Securities upgraded MAG Silver to a "strong-buy" rating in a research report on Monday, March 10th. Roth Capital set a $16.00 price target on MAG Silver in a report on Tuesday, March 25th. HC Wainwright raised 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. Finally, Scotiabank reiterated a "sector perform" rating on shares of MAG Silver in a report on Monday. Five investment 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.