Monaco Asset Management SAM Sells 431,000 Shares of MAG Silver Corporation $MAG

Monaco Asset Management SAM lessened its stake in shares of MAG Silver Corporation (NYSEAMERICAN:MAG) by 81.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,000 shares of the company’s stock after selling 431,000 shares during the quarter. Monaco Asset Management SAM’s holdings in MAG Silver were worth $2,007,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Rathbones Group PLC raised its holdings in MAG Silver by 4.8% during the 1st quarter. Rathbones Group PLC now owns 16,957 shares of the company’s stock valued at $259,000 after buying an additional 770 shares during the last quarter. D.A. Davidson & CO. grew 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 acquiring an additional 1,000 shares during the last quarter. Veracity Capital LLC increased its position in shares of MAG Silver by 8.5% in the second quarter. Veracity Capital LLC now owns 20,190 shares of the company’s stock valued at $427,000 after acquiring an additional 1,579 shares during the period. Raymond James Financial Inc. raised 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 acquiring an additional 1,738 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised 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 acquiring an additional 2,018 shares during the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

MAG Silver Price Performance

MAG stock opened at $24.47 on Friday. MAG Silver Corporation has a 1 year low of $11.72 and a 1 year high of $25.09. The firm has a 50-day moving average of $24.48 and a 200 day moving average of $21.81. The company has a market cap of $2.54 billion, a P/E ratio of 24.72 and a beta of 0.73.

MAG Silver Announces Dividend

The company also recently announced a dividend, which was paid on Monday, September 1st. Stockholders of record on Tuesday, August 19th were paid a $0.124 dividend. This represents a dividend yield of 236.0%. The ex-dividend date was Monday, August 18th. MAG Silver’s dividend payout ratio (DPR) 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.