Mark Sheptoff Financial Planning LLC Buys New Position in MAG Silver Corporation $MAG

Mark Sheptoff Financial Planning LLC purchased a new position in shares of MAG Silver Corporation (NYSEAMERICAN:MAG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,350 shares of the company’s stock, valued at approximately $71,000.

Other large investors also recently bought and sold shares of the company. D.A. Davidson & CO. acquired a new position in MAG Silver in the 1st quarter worth $167,000. Envestnet Asset Management Inc. grew its stake in shares of MAG Silver by 12.4% during the first quarter. Envestnet Asset Management Inc. now owns 28,164 shares of the company’s stock valued at $430,000 after acquiring an additional 3,109 shares in the last quarter. Alps Advisors Inc. increased its position in shares of MAG Silver by 711.6% during the first quarter. Alps Advisors Inc. now owns 392,675 shares of the company’s stock worth $6,000,000 after acquiring an additional 344,290 shares during the last quarter. Ninepoint Partners LP purchased a new stake in shares of MAG Silver during the first quarter worth about $657,000. Finally, Cetera Investment Advisers acquired a new position in shares of MAG Silver in the first quarter worth about $340,000. Institutional investors and hedge funds own 52.50% of the company’s stock.

MAG Silver Trading Down 1.2%

NYSEAMERICAN:MAG opened at $24.47 on Friday. The firm has a market capitalization of $2.54 billion, a PE ratio of 24.72 and a beta of 0.73. The stock has a 50 day moving average of $24.48 and a 200-day moving average of $21.76. MAG Silver Corporation has a 52 week low of $11.72 and a 52 week high of $25.09.

MAG Silver Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, September 1st. Shareholders of record on Tuesday, August 19th were paid 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 (DPR) is presently 33.80%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MAG shares. Scotiabank restated an “outperform” rating on shares of MAG Silver in a report on Tuesday, August 12th. HC Wainwright reiterated a “neutral” rating and issued a $22.00 price target on shares of MAG Silver in a research note on Thursday, July 24th. 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 given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.00.

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.