Bank of Montreal Can Sells 111,787 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

Bank of Montreal Can decreased its holdings in shares of MAG Silver Corp. (NYSEAMERICAN:MAG - Free Report) by 23.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 368,716 shares of the company's stock after selling 111,787 shares during the quarter. Bank of Montreal Can owned about 0.36% of MAG Silver worth $5,003,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Geode Capital Management LLC increased its stake in shares of MAG Silver by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 50,088 shares of the company's stock valued at $687,000 after acquiring an additional 1,245 shares during the last quarter. Schroder Investment Management Group increased its stake in MAG Silver by 38.4% in the fourth quarter. Schroder Investment Management Group now owns 323,100 shares of the company's stock valued at $4,297,000 after purchasing an additional 89,700 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in MAG Silver by 20.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 17,792 shares of the company's stock worth $242,000 after purchasing an additional 3,029 shares during the period. Quantbot Technologies LP boosted its position in shares of MAG Silver by 498.1% during the fourth quarter. Quantbot Technologies LP now owns 22,089 shares of the company's stock worth $300,000 after purchasing an additional 18,396 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in shares of MAG Silver by 46.4% in the 4th quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company's stock valued at $106,379,000 after buying an additional 2,486,538 shares during the period. 52.50% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on MAG shares. Roth Mkm reduced their target price on MAG Silver from $16.50 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, March 25th. Scotiabank reiterated a "sector perform" rating on shares of MAG Silver in a report on Monday. HC Wainwright increased their target price on MAG Silver from $21.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, March 25th. TD Securities raised shares of MAG Silver to a "strong-buy" rating in a research note on Monday, March 10th. Finally, Raymond James reiterated an "outperform" rating on shares of MAG Silver in a report on Tuesday, March 25th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.60.

MAG Silver Price Performance

MAG Silver stock traded down $0.47 during mid-day trading on Friday, hitting $15.53. 577,947 shares of the company's stock traded hands, compared to its average volume of 686,609. The firm has a 50 day simple moving average of $15.54 and a two-hundred day simple moving average of $15.23. MAG Silver Corp. has a fifty-two week low of $11.29 and a fifty-two week high of $18.27. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 21.87 and a beta of 1.09.

MAG Silver Dividend Announcement

The company also recently disclosed a -- dividend, which will be paid on Monday, April 21st. Stockholders of record on Friday, April 4th will be issued a dividend of $0.18 per share. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, April 4th. MAG Silver's dividend payout ratio is presently 101.41%.

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.