BCK Capital Management LP Makes New Investment in MAG Silver Corporation $MAG

BCK Capital Management LP acquired a new stake in MAG Silver Corporation (NYSEAMERICAN:MAG) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 78,000 shares of the company’s stock, valued at approximately $1,648,000. MAG Silver accounts for approximately 1.4% of BCK Capital Management LP’s portfolio, making the stock its 17th biggest holding.

Other institutional investors also recently modified their holdings of the company. Rathbones Group PLC grew its stake in shares of MAG Silver by 4.8% in the first quarter. Rathbones Group PLC now owns 16,957 shares of the company’s stock worth $259,000 after purchasing an additional 770 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in MAG Silver by 9.2% in the 2nd quarter. D.A. Davidson & CO. now owns 11,900 shares of the company’s stock worth $251,000 after buying an additional 1,000 shares during the period. Veracity Capital LLC grew its position in shares of MAG Silver by 8.5% in the 2nd quarter. Veracity Capital LLC now owns 20,190 shares of the company’s stock worth $427,000 after buying an additional 1,579 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of MAG Silver by 0.7% during the first quarter. Raymond James Financial Inc. now owns 257,763 shares of the company’s stock valued at $3,939,000 after buying an additional 1,738 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of MAG Silver by 7.2% during the second quarter. Envestnet Asset Management Inc. now owns 30,182 shares of the company’s stock valued at $638,000 after buying an additional 2,018 shares during the period. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MAG shares. HC Wainwright reiterated a “neutral” rating and issued a $22.00 price target on shares of MAG Silver in a report on Thursday, July 24th. Scotiabank reaffirmed an “outperform” rating on shares of MAG Silver in a research report on Tuesday, August 12th. Finally, Roth Capital reiterated a “neutral” rating and set a $23.00 price target (up previously from $22.00) on shares of MAG Silver in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.00.

MAG Silver Trading Down 1.2%

MAG opened at $24.47 on Friday. MAG Silver Corporation has a 12-month low of $11.72 and a 12-month high of $25.09. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 24.72 and a beta of 0.73. The stock has a fifty day simple moving average of $24.48 and a two-hundred day simple moving average of $21.81.

MAG Silver Dividend Announcement

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

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.