MAG Silver Corporation (NYSEAMERICAN:MAG) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. cut its holdings in MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 12.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 269,733 shares of the company's stock after selling 37,700 shares during the quarter. Intact Investment Management Inc. owned 0.26% of MAG Silver worth $4,104,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MAG. CIBC Asset Management Inc raised its holdings in shares of MAG Silver by 0.7% in the fourth quarter. CIBC Asset Management Inc now owns 114,355 shares of the company's stock valued at $1,550,000 after acquiring an additional 755 shares in the last quarter. Swiss National Bank raised its holdings in MAG Silver by 0.6% in the fourth quarter. Swiss National Bank now owns 193,900 shares of the company's stock worth $2,633,000 after purchasing an additional 1,200 shares in the last quarter. Geode Capital Management LLC raised its holdings in MAG Silver by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 50,088 shares of the company's stock worth $687,000 after purchasing an additional 1,245 shares in the last quarter. Veracity Capital LLC raised its holdings in MAG Silver by 8.1% in the first quarter. Veracity Capital LLC now owns 18,611 shares of the company's stock worth $284,000 after purchasing an additional 1,401 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of MAG Silver by 5.1% during the fourth quarter. Bank of America Corp DE now owns 49,779 shares of the company's stock worth $677,000 after acquiring an additional 2,399 shares during the last quarter. 52.50% of the stock is owned by hedge funds and other institutional investors.

MAG Silver Price Performance

Shares of NYSEAMERICAN MAG traded up $0.27 during midday trading on Monday, hitting $21.45. 2,384,107 shares of the company's stock were exchanged, compared to its average volume of 2,078,512. MAG Silver Corporation has a twelve month low of $11.29 and a twelve month high of $21.83. The company has a market cap of $2.22 billion, a PE ratio of 24.07 and a beta of 0.73. The firm's fifty day simple moving average is $18.04 and its 200-day simple moving average is $16.22.

MAG Silver Dividend Announcement

The firm also recently declared a -- dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were given a $0.18 dividend. The ex-dividend date was Monday, May 19th. This represents a yield of 0.5%. MAG Silver's dividend payout ratio (DPR) is 33.80%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MAG shares. Wall Street Zen upgraded MAG Silver from a "sell" rating to a "hold" rating in a research report on Monday, March 31st. TD Securities downgraded MAG Silver from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, May 22nd. Roth Capital set a $16.00 price target on MAG Silver in a report on Tuesday, March 25th. Raymond James Financial reissued an "outperform" rating on shares of MAG Silver in a report on Tuesday, March 25th. Finally, Scotiabank reissued a "sector perform" rating on shares of MAG Silver in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $18.13.

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.