CIBC Asset Management Inc Trims Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

CIBC Asset Management Inc lowered its position in MAG Silver Corp. (NYSEAMERICAN:MAG) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 113,600 shares of the company’s stock after selling 1,579 shares during the quarter. CIBC Asset Management Inc owned about 0.11% of MAG Silver worth $1,599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of MAG Silver in the 3rd quarter valued at approximately $28,000. Van ECK Associates Corp grew its position in MAG Silver by 4.8% in the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after acquiring an additional 467,817 shares during the period. International Assets Investment Management LLC acquired a new stake in MAG Silver during the third quarter worth $148,000. Veracity Capital LLC raised its position in MAG Silver by 16.8% in the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after purchasing an additional 2,396 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of MAG Silver by 304.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock valued at $299,000 after purchasing an additional 19,253 shares during the last quarter. 52.50% of the stock is currently owned by institutional investors and hedge funds.

MAG Silver Trading Up 0.4 %

MAG Silver stock opened at $15.78 on Wednesday. MAG Silver Corp. has a 52-week low of $8.19 and a 52-week high of $18.27. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 22.23 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. Equities analysts expect that MAG Silver Corp. will post 0.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MAG. Roth Mkm lowered shares of MAG Silver from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $17.00 to $17.50 in a report on Thursday, October 24th. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Roth Capital cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Scotiabank boosted their target price on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Finally, HC Wainwright raised their price target on MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.38.

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.