Intact Investment Management Inc. Decreases Stock Holdings in MAG Silver Corporation (NYSEAMERICAN:MAG)

Intact Investment Management Inc. decreased its holdings in shares of MAG Silver Corporation (NYSEAMERICAN:MAG) by 12.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,733 shares of the company’s stock after selling 37,700 shares during the period. Intact Investment Management Inc. owned about 0.26% of MAG Silver worth $4,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. First Eagle Investment Management LLC lifted its position in shares of MAG Silver by 46.4% during the 4th quarter. First Eagle Investment Management LLC now owns 7,839,793 shares of the company’s stock valued at $106,379,000 after buying an additional 2,486,538 shares in the last quarter. Sprott Inc. lifted its holdings in 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. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in MAG Silver by 6.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,161,605 shares of the company’s stock valued at $15,762,000 after purchasing an additional 73,205 shares in the last quarter. Millennium Management LLC lifted its holdings in MAG Silver by 3,324.7% in the 4th quarter. Millennium Management LLC now owns 886,203 shares of the company’s stock valued at $12,052,000 after purchasing an additional 860,326 shares in the last quarter. Finally, Amundi lifted its holdings in MAG Silver by 34.3% in the 4th quarter. Amundi now owns 507,941 shares of the company’s stock valued at $7,264,000 after purchasing an additional 129,627 shares in the last quarter. Hedge funds and other institutional investors own 52.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MAG. Wall Street Zen upgraded MAG Silver from a “sell” rating to a “hold” rating in a report on Monday, March 31st. Raymond James Financial restated an “outperform” rating on shares of MAG Silver in a report on Tuesday, March 25th. HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of MAG Silver in a report on Thursday, April 24th. Roth Mkm reduced their price target on MAG Silver from $16.50 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, March 25th. Finally, Roth Capital set a $16.00 price target on MAG Silver in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.13.

MAG Silver Trading Down 1.1%

Shares of NYSEAMERICAN:MAG opened at $21.18 on Friday. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 24.07 and a beta of 0.73. The business has a 50-day moving average price of $18.04 and a 200 day moving average price of $16.21. MAG Silver Corporation has a 12-month low of $11.29 and a 12-month high of $21.83.

MAG Silver Announces Dividend

The company also recently announced a — dividend, which was paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th were given a $0.18 dividend. This represents a yield of 0.5%. The ex-dividend date of this dividend was Monday, May 19th. MAG Silver’s dividend payout ratio 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.