Jennison Associates LLC Trims Stock Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

Jennison Associates LLC decreased its holdings in MAG Silver Corp. (NYSEAMERICAN:MAG) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 492,536 shares of the company’s stock after selling 1,116 shares during the quarter. Jennison Associates LLC’s holdings in MAG Silver were worth $5,125,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Crown Wealth Group LLC purchased a new position in shares of MAG Silver during the 4th quarter valued at about $118,000. Quadrature Capital Ltd purchased a new position in MAG Silver during the third quarter valued at approximately $127,000. Privium Fund Management B.V. boosted its position in shares of MAG Silver by 44.9% in the third quarter. Privium Fund Management B.V. now owns 15,500 shares of the company’s stock worth $161,000 after purchasing an additional 4,800 shares during the period. Banque Cantonale Vaudoise increased its stake in shares of MAG Silver by 23.0% in the third quarter. Banque Cantonale Vaudoise now owns 16,242 shares of the company’s stock worth $169,000 after purchasing an additional 3,037 shares in the last quarter. Finally, Veracity Capital LLC raised its position in shares of MAG Silver by 50.0% during the 4th quarter. Veracity Capital LLC now owns 16,654 shares of the company’s stock valued at $173,000 after purchasing an additional 5,551 shares during the period. 52.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Scotiabank raised shares of MAG Silver from a “sector perform” rating to a “sector outperform” rating and dropped their target price for the stock from $15.00 to $13.50 in a report on Thursday, March 28th. Stifel Nicolaus dropped their price objective on MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. StockNews.com upgraded MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. Finally, HC Wainwright boosted their price target on MAG Silver from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $18.25.

MAG Silver Price Performance

MAG opened at $12.97 on Friday. 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 Corp. has a 52 week low of $8.19 and a 52 week high of $13.62.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings results on Tuesday, March 19th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. On average, 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.