Monaco Asset Management SAM Has $8.03 Million Stock Holdings in MAG Silver Corporation (NYSEAMERICAN:MAG)

Key Points

• Monaco Asset Management SAM increased its holdings in MAG Silver Corporation by 127.6% during the first quarter, owning 526,000 shares valued at approximately $8 million.
• The stock of MAG Silver has a market capitalization of $2.13 billion and a P/E ratio of 23.35, with shares trading recently at around $20.55.
• MAG Silver's recent dividend of $0.18 per share reflects a yield of 0.5% and a dividend payout ratio of 33.80%.

Monaco Asset Management SAM lifted its stake in shares of MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 127.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 526,000 shares of the company's stock after purchasing an additional 294,878 shares during the quarter. MAG Silver comprises about 1.6% of Monaco Asset Management SAM's investment portfolio, making the stock its 8th largest holding. Monaco Asset Management SAM owned 0.51% of MAG Silver worth $8,034,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in MAG Silver in the first quarter worth about $37,000. D. E. Shaw & Co. Inc. acquired a new stake in MAG Silver during the 4th quarter worth about $156,000. D.A. Davidson & CO. acquired a new stake in MAG Silver during the 1st quarter worth about $167,000. Susquehanna Fundamental Investments LLC acquired a new stake in MAG Silver during the 4th quarter worth about $188,000. Finally, Tradition Wealth Management LLC acquired a new stake in MAG Silver during the 4th quarter worth about $222,000. 52.50% of the stock is currently owned by institutional investors.

MAG Silver Trading Down 0.4%

Shares of NYSEAMERICAN MAG traded down $0.09 during mid-day trading on Friday, reaching $20.33. 705,910 shares of the company's stock were exchanged, compared to its average volume of 1,248,008. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 23.10 and a beta of 0.75. The business has a fifty day simple moving average of $20.98 and a 200 day simple moving average of $17.17. MAG Silver Corporation has a twelve month low of $11.29 and a twelve month high of $22.66.

MAG Silver Dividend Announcement

The company also recently announced a -- dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were given a $0.18 dividend. This represents a yield of 50.0%. The ex-dividend date of this dividend was Monday, May 19th. MAG Silver's dividend payout ratio (DPR) is currently 33.80%.

Analyst Ratings Changes

Several equities research analysts recently commented on MAG shares. Roth Capital boosted their price target on MAG Silver from $18.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Canaccord Genuity Group cut MAG Silver from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 12th. TD Securities cut MAG Silver from a "strong-buy" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Scotiabank reissued a "sector perform" rating on shares of MAG Silver in a research note on Monday, April 14th. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $22.00 target price on shares of MAG Silver in a research report on Thursday, July 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $19.38.

About MAG Silver

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.