Bridgefront Capital LLC Trims Holdings in MAG Silver Corp. (NYSEAMERICAN:MAG)

Bridgefront Capital LLC reduced its stake in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 7.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,520 shares of the company’s stock after selling 807 shares during the quarter. Bridgefront Capital LLC’s holdings in MAG Silver were worth $143,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Aigen Investment Management LP bought a new stake in MAG Silver during the 4th quarter valued at $156,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of MAG Silver in the fourth quarter valued at about $188,000. Tradition Wealth Management LLC purchased a new stake in MAG Silver in the fourth quarter worth about $222,000. Strategic Financial Concepts LLC bought a new position in MAG Silver during the 4th quarter worth about $240,000. Finally, Pictet Asset Management Holding SA increased its position in MAG Silver by 20.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 17,792 shares of the company’s stock valued at $242,000 after purchasing an additional 3,029 shares during the period. 52.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MAG has been the subject of several research reports. Roth Capital set a $16.00 price target on shares of MAG Silver in a research report on Tuesday, March 25th. TD Securities raised MAG Silver to a “strong-buy” rating in a research report on Monday, March 10th. Scotiabank reissued a “sector perform” rating on shares of MAG Silver in a research report on Monday, April 14th. Roth Mkm dropped their price objective on 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, StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a report on Monday, March 31st. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.60.

MAG Silver Stock Performance

MAG Silver stock opened at $16.92 on Friday. The stock has a market cap of $1.75 billion, a PE ratio of 23.83 and a beta of 1.09. The stock has a 50-day moving average of $15.31 and a two-hundred day moving average of $15.31. MAG Silver Corp. has a one year low of $11.29 and a one year high of $18.27.

MAG Silver Dividend Announcement

The business also recently announced a — dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th will be given a dividend of $0.18 per share. This represents a yield of 0.5%. The ex-dividend date is Monday, May 19th. MAG Silver’s dividend payout ratio is presently 101.41%.

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.