Jupiter Asset Management Ltd. Trims Stock Position in MAG Silver Corporation (NYSEAMERICAN:MAG)

Key Points

• Jupiter Asset Management Ltd. decreased its stake in MAG Silver Corporation by 26.7%, selling 842,258 shares during the first quarter, leaving it with approximately 2.24% ownership valued at $35.17 million.
• MAG Silver declared a dividend of $0.18 per share with a significant 50% yield, paid to shareholders on May 28th.
• Analyst ratings for MAG Silver have varied, with one research analyst assigning a sell rating, six a hold rating, and one a buy rating; the stock currently holds an average price target of $19.38.

Jupiter Asset Management Ltd. lowered its stake in MAG Silver Corporation (NYSEAMERICAN:MAG - Free Report) by 26.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,312,571 shares of the company's stock after selling 842,258 shares during the quarter. Jupiter Asset Management Ltd. owned approximately 2.24% of MAG Silver worth $35,173,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in shares of MAG Silver during the first quarter worth approximately $37,000. D. E. Shaw & Co. Inc. bought a new stake in shares of MAG Silver in the fourth quarter valued at approximately $156,000. D.A. Davidson & CO. bought a new stake in shares of MAG Silver in the first quarter valued at approximately $167,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of MAG Silver in the fourth quarter valued at approximately $188,000. Finally, Tradition Wealth Management LLC bought a new stake in shares of MAG Silver in the fourth quarter valued at approximately $222,000. Institutional investors and hedge funds own 52.50% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MAG. Roth Capital upped their price target on shares of MAG Silver from $18.00 to $21.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. HC Wainwright restated a "neutral" rating and issued a $22.00 price objective on shares of MAG Silver in a report on Thursday, July 24th. Canaccord Genuity Group downgraded MAG Silver from a "strong-buy" rating to a "hold" rating in a report on Monday, May 12th. TD Securities downgraded MAG Silver from a "strong-buy" rating to a "strong sell" rating in a report on Thursday, May 22nd. Finally, Scotiabank restated 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, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $19.38.

MAG Silver Stock Up 0.1%

Shares of NYSEAMERICAN MAG traded up $0.02 during mid-day trading on Wednesday, reaching $21.68. 858,242 shares of the company were exchanged, compared to its average volume of 1,244,730. The firm has a 50-day moving average of $21.12 and a 200 day moving average of $17.30. MAG Silver Corporation has a 1 year low of $11.72 and a 1 year high of $22.66. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 24.64 and a beta of 0.69.

MAG Silver Dividend Announcement

The business also recently declared a -- dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were issued 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 payout ratio is presently 33.80%.

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.