Sprott Inc. Cuts Position in MAG Silver Corporation $MAG

Key Points

• Sprott Inc. reduced its holdings in MAG Silver Corporation by 13.6% in the first quarter, now owning 2,289,923 shares, which represents approximately 1.9% of their total portfolio.
• The company announced a $0.124 dividend to be paid on September 1st, with a significant yield of 236.0% and a payout ratio of 33.80%.
• Analysts have downgraded MAG Silver’s stock rating recently, with TD Securities moving it from a "strong-buy" to a "strong sell," while the consensus price target is set at $21.00.

Sprott Inc. decreased its position in MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 13.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,289,923 shares of the company's stock after selling 359,584 shares during the period. MAG Silver makes up 1.9% of Sprott Inc.'s portfolio, making the stock its 16th largest position. Sprott Inc. owned approximately 2.22% of MAG Silver worth $34,899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of MAG Silver by 20.5% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,399,405 shares of the company's stock valued at $21,290,000 after buying an additional 237,800 shares during the period. TD Asset Management Inc boosted its stake in MAG Silver by 4.1% in the 1st quarter. TD Asset Management Inc now owns 1,116,157 shares of the company's stock worth $16,976,000 after purchasing an additional 43,822 shares during the period. Millennium Management LLC boosted its stake in MAG Silver by 3,324.7% in the 4th quarter. Millennium Management LLC now owns 886,203 shares of the company's stock worth $12,052,000 after purchasing an additional 860,326 shares during the period. Monaco Asset Management SAM boosted its stake in MAG Silver by 127.6% in the 1st quarter. Monaco Asset Management SAM now owns 526,000 shares of the company's stock worth $8,034,000 after purchasing an additional 294,878 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in MAG Silver by 58.7% in the 1st quarter. Mackenzie Financial Corp now owns 521,795 shares of the company's stock worth $7,937,000 after purchasing an additional 192,991 shares during the period. Institutional investors and hedge funds own 52.50% of the company's stock.

MAG Silver Stock Performance

NYSEAMERICAN:MAG traded down $0.10 on Monday, hitting $23.59. The stock had a trading volume of 1,373,006 shares, compared to its average volume of 1,330,086. The stock has a market cap of $2.45 billion, a P/E ratio of 23.83 and a beta of 0.69. MAG Silver Corporation has a 1 year low of $11.72 and a 1 year high of $23.80. The firm's fifty day simple moving average is $21.78 and its two-hundred day simple moving average is $18.18.

MAG Silver Dividend Announcement

The business also recently declared a dividend, which will be paid on Monday, September 1st. Stockholders of record on Tuesday, August 19th will be paid a dividend of $0.124 per share. The ex-dividend date is Monday, August 18th. This represents a dividend yield of 236.0%. MAG Silver's dividend payout ratio (DPR) is presently 33.80%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MAG. HC Wainwright reissued a "neutral" rating and issued a $22.00 target price on shares of MAG Silver in a research report on Thursday, July 24th. Canaccord Genuity Group lowered MAG Silver from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 12th. Roth Capital restated a "neutral" rating and set a $23.00 price objective (up from $22.00) on shares of MAG Silver in a research note on Tuesday, August 12th. TD Securities downgraded shares of MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Finally, Scotiabank restated 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 assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $21.00.

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.