Harel Insurance Investments & Financial Services Ltd. Invests $53,000 in MAG Silver Corporation $MAG

Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of MAG Silver Corporation (NYSEAMERICAN:MAG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,500 shares of the company’s stock, valued at approximately $53,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise purchased a new stake in shares of MAG Silver during the first quarter worth about $37,000. Northwest & Ethical Investments L.P. raised its stake in MAG Silver by 39.3% during the first quarter. Northwest & Ethical Investments L.P. now owns 8,178 shares of the company’s stock valued at $124,000 after buying an additional 2,308 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in MAG Silver during the first quarter valued at approximately $167,000. Everett Harris & Co. CA acquired a new stake in MAG Silver during the first quarter valued at approximately $177,000. Finally, Virtu Financial LLC acquired a new stake in MAG Silver during the first quarter valued at approximately $179,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on MAG. HC Wainwright restated a “neutral” rating and set a $22.00 price objective on shares of MAG Silver in a research note on Thursday, July 24th. Scotiabank restated an “outperform” rating on shares of MAG Silver in a research note on Tuesday, August 12th. Finally, Roth Capital restated a “neutral” rating and set a $23.00 price objective (up previously from $22.00) on shares of MAG Silver in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, MAG Silver has a consensus rating of “Hold” and an average price target of $21.00.

MAG Silver Price Performance

Shares of MAG opened at $24.47 on Tuesday. The company has a market cap of $2.54 billion, a P/E ratio of 24.72 and a beta of 0.73. The stock has a fifty day moving average price of $24.45 and a 200 day moving average price of $21.60. MAG Silver Corporation has a 12 month low of $11.72 and a 12 month high of $25.09.

MAG Silver Dividend Announcement

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

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.