MAG Silver (NYSEAMERICAN:MAG) Cut to “Strong Sell” at TD Securities

TD Securities downgraded shares of MAG Silver (NYSEAMERICAN:MAG) from a strong-buy rating to a strong sell rating in a research note issued to investors on Thursday, MarketBeat reports.

Several other equities research analysts have also recently commented on the company. Raymond James reaffirmed an “outperform” rating on shares of MAG Silver in a research note on Tuesday, March 25th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of MAG Silver in a research note on Thursday, April 24th. Wall Street Zen raised MAG Silver from a “sell” rating to a “hold” rating in a research note on Monday, March 31st. Canaccord Genuity Group cut MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 12th. Finally, Roth Mkm decreased their target price on MAG Silver from $16.50 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, MAG Silver currently has a consensus rating of “Hold” and a consensus target price of $18.13.

MAG Silver Price Performance

NYSEAMERICAN MAG opened at $18.67 on Thursday. The business has a 50 day simple moving average of $15.83 and a 200 day simple moving average of $15.50. MAG Silver has a one year low of $11.29 and a one year high of $19.17. The stock has a market capitalization of $1.93 billion, a P/E ratio of 26.30 and a beta of 1.09.

MAG Silver Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, May 19th. This represents a dividend yield of 0.5%. MAG Silver’s dividend payout ratio is 101.41%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Strategic Financial Concepts LLC bought a new stake in MAG Silver during the fourth quarter worth $240,000. Allspring Global Investments Holdings LLC lifted its holdings in MAG Silver by 56.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 278,000 shares of the company’s stock worth $3,781,000 after acquiring an additional 100,500 shares during the period. CIBC Asset Management Inc lifted its holdings in MAG Silver by 0.7% during the fourth quarter. CIBC Asset Management Inc now owns 114,355 shares of the company’s stock worth $1,550,000 after acquiring an additional 755 shares during the period. Sprott Inc. lifted its holdings in MAG Silver by 8.5% during the fourth quarter. Sprott Inc. now owns 2,649,507 shares of the company’s stock worth $36,004,000 after acquiring an additional 208,252 shares during the period. Finally, Aigen Investment Management LP bought a new stake in MAG Silver during the fourth quarter worth $156,000. Hedge funds and other institutional investors own 52.50% of the company’s stock.

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.