Mirae Asset Global Investments Co. Ltd. lifted its stake in MAG Silver Corp. (NYSEAMERICAN:MAG – Free Report) by 1.8% during the second quarter, Holdings Channel.com reports. The fund owned 2,483,696 shares of the company’s stock after buying an additional 44,444 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in MAG Silver were worth $27,685,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of MAG. Natixis acquired a new stake in MAG Silver in the fourth quarter valued at $34,000. Geneos Wealth Management Inc. lifted its stake in MAG Silver by 89.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,385 shares of the company’s stock valued at $54,000 after purchasing an additional 1,600 shares during the last quarter. Deutsche Bank AG bought a new position in MAG Silver during the fourth quarter worth about $55,000. Spartan Fund Management Inc. increased its position in MAG Silver by 817.9% during the second quarter. Spartan Fund Management Inc. now owns 91,791 shares of the company’s stock worth $56,000 after buying an additional 81,791 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new stake in MAG Silver in the first quarter valued at approximately $78,000. Institutional investors own 42.80% of the company’s stock.
Analysts Set New Price Targets
MAG has been the subject of several research analyst reports. Scotiabank reduced their target price on MAG Silver from $16.00 to $15.50 in a research note on Monday, August 14th. HC Wainwright reissued a “buy” rating and set a $19.50 price target on shares of MAG Silver in a report on Monday, November 13th. StockNews.com raised MAG Silver to a “sell” rating in a report on Monday. Finally, BMO Capital Markets started coverage on MAG Silver in a report on Thursday, September 14th. They set an “outperform” rating and a $23.50 target price for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, MAG Silver presently has an average rating of “Hold” and an average target price of $22.39.
MAG Silver Stock Down 0.2 %
MAG stock opened at $10.48 on Tuesday. The company has a market cap of $1.08 billion, a P/E ratio of 32.75 and a beta of 1.11. MAG Silver Corp. has a 1 year low of $9.60 and a 1 year high of $17.02.
MAG Silver (NYSEAMERICAN:MAG – Get Free Report) last announced its quarterly earnings results on Friday, November 10th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.07). As a group, research analysts expect that MAG Silver Corp. will post 0.49 earnings per share for the current fiscal year.
MAG Silver Company Profile
MAG Silver Corp. engages in the exploration and development of precious metal mining properties. The company explores for silver, gold, lead, copper, and zinc deposits. It primarily holds 44% interest in the Juanicipio project located in the Fresnillo District, Zacatecas State, Mexico. MAG Silver Corp.
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