MAG Silver (NYSEAMERICAN:MAG) Lowered to Hold Rating by Canaccord Genuity Group

Canaccord Genuity Group lowered shares of MAG Silver (NYSEAMERICAN:MAG - Free Report) from a strong-buy rating to a hold rating in a research report report published on Monday morning,Zacks.com reports.

A number of other research analysts also recently weighed in on the company. Roth Capital set a $16.00 price target on MAG Silver in a research note on Tuesday, March 25th. Roth Mkm lowered their target price on MAG Silver from $16.50 to $16.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 25th. TD Securities upgraded shares of MAG Silver to a "strong-buy" rating in a research note on Monday, March 10th. StockNews.com raised shares of MAG Silver from a "sell" rating to a "hold" rating in a report on Monday, March 31st. Finally, Raymond James reiterated an "outperform" rating on shares of MAG Silver in a research report on Tuesday, March 25th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, MAG Silver currently has an average rating of "Moderate Buy" and a consensus target price of $18.13.

MAG Silver Trading Down 0.7%

Shares of MAG stock traded down $0.13 on Monday, hitting $17.84. The stock had a trading volume of 3,970,856 shares, compared to its average volume of 1,005,211. The company has a fifty day moving average price of $15.61 and a two-hundred day moving average price of $15.40. The firm has a market cap of $1.84 billion, a P/E ratio of 25.13 and a beta of 1.09. MAG Silver has a twelve month low of $11.29 and a twelve month high of $19.17.

MAG Silver Dividend Announcement

The company also recently disclosed a -- dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th will be given a $0.18 dividend. This represents a yield of 0.5%. The ex-dividend date of this dividend is Monday, May 19th. MAG Silver's payout ratio is 101.41%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. First Eagle Investment Management LLC lifted its stake in MAG Silver by 46.4% in the 4th quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company's stock worth $106,379,000 after purchasing an additional 2,486,538 shares in the last quarter. Sprott Inc. boosted its stake in shares of MAG Silver by 8.5% in the 4th quarter. Sprott Inc. now owns 2,649,507 shares of the company's stock valued at $36,004,000 after purchasing an additional 208,252 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of MAG Silver by 11.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,455,720 shares of the company's stock valued at $37,350,000 after buying an additional 258,379 shares during the last quarter. Royal Bank of Canada increased its stake in MAG Silver by 8.6% in the 1st quarter. Royal Bank of Canada now owns 1,660,583 shares of the company's stock worth $25,374,000 after purchasing an additional 131,813 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in MAG Silver by 20.5% during 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 last quarter. 52.50% of the stock is owned by institutional investors.

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.