Alpine Associates Management Inc. Buys New Shares in MAG Silver Corporation $MAG

Alpine Associates Management Inc. bought a new stake in shares of MAG Silver Corporation (NYSEAMERICAN:MAG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,545,149 shares of the company’s stock, valued at approximately $53,779,000. MAG Silver comprises approximately 2.9% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 9th biggest holding.

A number of other institutional investors also recently bought and sold shares of MAG. Banque Cantonale Vaudoise bought a new position in shares of MAG Silver during the first quarter valued at approximately $37,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of MAG Silver in the 2nd quarter worth approximately $53,000. Northwest & Ethical Investments L.P. increased its holdings in shares of MAG Silver by 39.3% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 8,178 shares of the company’s stock valued at $124,000 after acquiring an additional 2,308 shares during the period. D.A. Davidson & CO. bought a new position in MAG Silver in the first quarter worth about $167,000. Finally, Everett Harris & Co. CA purchased a new position in MAG Silver during the 1st quarter worth $177,000. 52.50% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MAG has been the subject of a number of research analyst reports. HC Wainwright restated a “neutral” rating and issued a $22.00 target price on shares of MAG Silver in a research note on Thursday, July 24th. Roth Capital reissued a “neutral” rating and set a $23.00 price target (up from $22.00) on shares of MAG Silver in a report on Tuesday, August 12th. Finally, Scotiabank reiterated an “outperform” rating on shares of MAG Silver in a research report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.00.

MAG Silver Price Performance

Shares of MAG Silver stock opened at $24.47 on Monday. MAG Silver Corporation has a 1-year low of $11.72 and a 1-year high of $25.09. The stock has a market cap of $2.54 billion, a P/E ratio of 24.72 and a beta of 0.73. The stock’s 50 day simple moving average is $24.43 and its 200-day simple moving average is $21.53.

MAG Silver Dividend Announcement

The company also recently announced a dividend, which was paid on Monday, September 1st. Shareholders of record on Tuesday, August 19th were paid a dividend of $0.124 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a yield of 236.0%. MAG Silver’s payout ratio is 33.80%.

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.