Monaco Asset Management SAM Sells 431,000 Shares of MAG Silver Corporation $MAG

Monaco Asset Management SAM lessened its holdings in MAG Silver Corporation (NYSEAMERICAN:MAG) by 81.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,000 shares of the company’s stock after selling 431,000 shares during the period. Monaco Asset Management SAM owned 0.09% of MAG Silver worth $2,007,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in MAG Silver in the 1st quarter worth about $37,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of MAG Silver during the 2nd quarter valued at about $53,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of MAG Silver during the second quarter worth about $71,000. Northwest & Ethical Investments L.P. grew its holdings in shares of MAG Silver by 39.3% during the first quarter. Northwest & Ethical Investments L.P. now owns 8,178 shares of the company’s stock worth $124,000 after purchasing an additional 2,308 shares in the last quarter. Finally, D.A. Davidson & CO. bought a new position in shares of MAG Silver in the first quarter worth approximately $167,000. Institutional investors own 52.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MAG. Scotiabank reissued an “outperform” rating on shares of MAG Silver in a research note on Tuesday, August 12th. Roth Capital reaffirmed a “neutral” rating and set a $23.00 price objective (up from $22.00) on shares of MAG Silver in a report on Tuesday, August 12th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $22.00 target price on shares of MAG Silver in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.00.

MAG Silver Price Performance

Shares of NYSEAMERICAN MAG opened at $24.47 on Friday. The stock has a market capitalization of $2.54 billion, a P/E ratio of 24.72 and a beta of 0.73. MAG Silver Corporation has a one year low of $11.72 and a one year high of $25.09. The firm’s 50 day simple moving average is $24.48 and its two-hundred day simple moving average is $21.81.

MAG Silver Dividend Announcement

The firm also recently declared a dividend, which was paid on Monday, September 1st. Shareholders of record on Tuesday, August 19th were given a dividend of $0.124 per share. This represents a yield of 236.0%. The ex-dividend date was Monday, August 18th. MAG Silver’s dividend payout ratio is presently 33.80%.

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.