MAG Silver Corporation (NYSEAMERICAN:MAG) is Monaco Asset Management SAM’s 8th Largest Position

Monaco Asset Management SAM grew its position in shares of MAG Silver Corporation (NYSEAMERICAN:MAG) by 127.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 526,000 shares of the company’s stock after purchasing an additional 294,878 shares during the quarter. MAG Silver makes up about 1.6% of Monaco Asset Management SAM’s holdings, making the stock its 8th largest position. Monaco Asset Management SAM owned 0.51% of MAG Silver worth $8,034,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MAG. Banque Cantonale Vaudoise purchased a new position in shares of MAG Silver during the first quarter worth approximately $37,000. Mackenzie Financial Corp increased its stake in MAG Silver by 58.7% in the first quarter. Mackenzie Financial Corp now owns 521,795 shares of the company’s stock valued at $7,937,000 after purchasing an additional 192,991 shares during the period. TD Asset Management Inc raised its holdings in shares of MAG Silver by 4.1% in the first quarter. TD Asset Management Inc now owns 1,116,157 shares of the company’s stock valued at $16,976,000 after buying an additional 43,822 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of MAG Silver in the first quarter valued at about $340,000. Finally, Ninepoint Partners LP acquired a new stake in shares of MAG Silver during the first quarter worth about $657,000. Hedge funds and other institutional investors own 52.50% of the company’s stock.

Wall Street Analyst Weigh In

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

MAG Silver Stock Performance

MAG opened at $21.18 on Wednesday. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 24.07 and a beta of 0.75. MAG Silver Corporation has a one year low of $11.29 and a one year high of $22.66. The business’s fifty day moving average is $20.90 and its two-hundred day moving average is $17.11.

MAG Silver Dividend Announcement

The firm also recently announced a — dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were issued a dividend of $0.18 per share. The ex-dividend date was Monday, May 19th. This represents a yield of 0.5%. MAG Silver’s dividend payout ratio (DPR) is currently 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.