Oppenheimer & Co. Inc. grew its holdings in shares of MAG Silver Corp. (NYSEAMERICAN:MAG – Free Report) by 23.4% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 455,150 shares of the company’s stock after buying an additional 86,440 shares during the period. Oppenheimer & Co. Inc.’s holdings in MAG Silver were worth $4,815,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. Azarias Capital Management L.P. boosted its stake in MAG Silver by 73.7% in the 1st quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock worth $14,866,000 after purchasing an additional 596,283 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in MAG Silver by 6.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock worth $665,000 after purchasing an additional 3,950 shares in the last quarter. CIBC Asset Management Inc boosted its stake in MAG Silver by 3.0% in the 4th quarter. CIBC Asset Management Inc now owns 90,881 shares of the company’s stock worth $949,000 after purchasing an additional 2,652 shares in the last quarter. National Bank of Canada FI boosted its stake in MAG Silver by 5.9% in the 4th quarter. National Bank of Canada FI now owns 240,600 shares of the company’s stock worth $2,477,000 after purchasing an additional 13,348 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in MAG Silver in the 4th quarter worth about $513,000. Institutional investors own 52.50% of the company’s stock.
Analyst Upgrades and Downgrades
MAG has been the subject of a number of recent analyst reports. StockNews.com raised MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. HC Wainwright reissued a “buy” rating and issued a $17.00 target price on shares of MAG Silver in a research report on Thursday, May 16th. Ventum Cap Mkts lowered MAG Silver from a “buy” rating to a “neutral” rating in a research report on Friday, May 3rd. Stifel Nicolaus boosted their target price on MAG Silver from $20.25 to $20.50 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Finally, Scotiabank boosted their target price on MAG Silver from $13.50 to $14.50 and gave the stock a “sector outperform” rating in a research report on Thursday, May 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.88.
View Our Latest Research Report on MAG
MAG Silver Stock Up 0.4 %
NYSEAMERICAN MAG opened at $13.61 on Friday. MAG Silver Corp. has a 52 week low of $8.19 and a 52 week high of $14.30. The stock has a market cap of $1.40 billion, a PE ratio of 24.30 and a beta of 1.12.
MAG Silver (NYSEAMERICAN:MAG – Get Free Report) last released its quarterly earnings results on Tuesday, May 14th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.10 by $0.04. Sell-side analysts forecast that MAG Silver Corp. will post 0.55 EPS for the current fiscal year.
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.
Further Reading
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