Sprott Inc. Sells 359,584 Shares of 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. cut its stake in shares of MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 13.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,289,923 shares of the company's stock after selling 359,584 shares during the quarter. MAG Silver makes up 1.9% of Sprott Inc.'s portfolio, making the stock its 16th largest holding. Sprott Inc. owned about 2.22% of MAG Silver worth $34,899,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP raised its holdings in shares of MAG Silver by 17.5% in the first quarter. Quantbot Technologies LP now owns 25,959 shares of the company's stock valued at $397,000 after buying an additional 3,870 shares during the last quarter. Northwest & Ethical Investments L.P. raised its holdings in shares of MAG Silver by 39.3% in the first quarter. Northwest & Ethical Investments L.P. now owns 8,178 shares of the company's stock valued at $124,000 after buying an additional 2,308 shares during the last quarter. Raymond James Financial Inc. raised its holdings in shares of MAG Silver by 0.7% in the first quarter. Raymond James Financial Inc. now owns 257,763 shares of the company's stock valued at $3,939,000 after buying an additional 1,738 shares during the last quarter. Rathbones Group PLC raised its holdings in shares of MAG Silver by 4.8% in the first 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. Finally, Nuveen LLC bought a new position in shares of MAG Silver in the first quarter valued at about $1,245,000. 52.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Canaccord Genuity Group cut MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. TD Securities lowered MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research report on Thursday, May 22nd. Scotiabank reiterated an "outperform" rating on shares of MAG Silver in a research report on Tuesday, August 12th. Roth Capital reiterated a "neutral" rating and issued a $23.00 price objective (up from $22.00) on shares of MAG Silver in a research report on Tuesday, August 12th. Finally, HC Wainwright restated a "neutral" rating and set a $22.00 target price on shares of MAG Silver in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $21.00.

MAG Silver Stock Performance

NYSEAMERICAN MAG traded down $0.05 during trading on Wednesday, hitting $23.93. The stock had a trading volume of 745,765 shares, compared to its average volume of 1,325,205. The company has a market capitalization of $2.48 billion, a PE ratio of 24.17 and a beta of 0.69. The company's 50-day moving average price is $21.87 and its two-hundred day moving average price is $18.29. MAG Silver Corporation has a 12 month low of $11.72 and a 12 month high of $24.00.

MAG Silver Dividend Announcement

The business also recently disclosed 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 is currently 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.