Gabelli Funds LLC Sells 120,000 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

Gabelli Funds LLC lowered its stake in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 26.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 339,000 shares of the company’s stock after selling 120,000 shares during the quarter. Gabelli Funds LLC’s holdings in MAG Silver were worth $4,610,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MAG. Public Employees Retirement System of Ohio purchased a new stake in shares of MAG Silver in the 3rd quarter valued at $390,000. Barclays PLC lifted its position in MAG Silver by 211.5% during the third quarter. Barclays PLC now owns 30,780 shares of the company’s stock valued at $432,000 after purchasing an additional 20,899 shares during the period. Tidal Investments LLC boosted its holdings in MAG Silver by 3.6% in the third quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock valued at $39,453,000 after purchasing an additional 98,312 shares during the last quarter. JPMorgan Chase & Co. grew its position in MAG Silver by 69.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock worth $6,407,000 after purchasing an additional 186,445 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new position in shares of MAG Silver during the 4th quarter valued at about $240,000. 52.50% of the stock is currently owned by institutional investors.

MAG Silver Stock Down 2.9 %

MAG opened at $15.53 on Friday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 21.87 and a beta of 1.09. The firm’s fifty day simple moving average is $15.55 and its two-hundred day simple moving average is $15.23. MAG Silver Corp. has a 52-week low of $11.29 and a 52-week high of $18.27.

MAG Silver Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. HC Wainwright upped 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. Scotiabank reaffirmed a “sector perform” rating on shares of MAG Silver in a research note on Monday. Roth Capital set a $16.00 target price on shares of MAG Silver in a research note on Tuesday, March 25th. Roth Mkm dropped their price target on shares of MAG Silver from $16.50 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 25th. Finally, TD Securities raised shares of MAG Silver to a “strong-buy” rating in a report on Monday, March 10th. Five 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.60.

MAG Silver Company 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.