Duality Advisers LP Makes New Investment in MAG Silver Corp. (NYSEAMERICAN:MAG)

Duality Advisers LP acquired a new position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 24,467 shares of the company’s stock, valued at approximately $255,000.

Other large investors also recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in shares of MAG Silver by 4.4% in the 3rd quarter. Van ECK Associates Corp now owns 9,746,401 shares of the company’s stock valued at $101,069,000 after purchasing an additional 406,335 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of MAG Silver by 0.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 5,737,626 shares of the company’s stock valued at $59,306,000 after purchasing an additional 22,141 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of MAG Silver by 2.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,542,545 shares of the company’s stock valued at $26,403,000 after purchasing an additional 58,849 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in shares of MAG Silver by 1.7% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 2,364,171 shares of the company’s stock valued at $24,551,000 after purchasing an additional 38,784 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of MAG Silver by 8.8% in the 3rd quarter. Invesco Ltd. now owns 1,465,920 shares of the company’s stock valued at $15,202,000 after purchasing an additional 118,211 shares in the last quarter. Hedge funds and other institutional investors own 52.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MAG. Stifel Nicolaus cut their price target on shares of MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, March 20th. StockNews.com upgraded shares of MAG Silver to a “sell” rating in a report on Wednesday, March 27th. HC Wainwright raised their target price on shares of MAG Silver from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday. Finally, Scotiabank upgraded shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and dropped their target price for the company from $15.00 to $13.50 in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.25.

MAG Silver Price Performance

NYSEAMERICAN:MAG opened at $12.97 on Friday. MAG Silver Corp. has a twelve month low of $8.19 and a twelve month high of $13.62. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 27.60 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. On average, research analysts forecast that MAG Silver Corp. will post 0.55 EPS for the current year.

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.