MAG Silver Corp. (NYSEAMERICAN:MAG) Stake Boosted by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. raised its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 6.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,517,445 shares of the company’s stock after buying an additional 153,274 shares during the period. Jupiter Asset Management Ltd.’s holdings in MAG Silver were worth $26,584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MAG. Raymond James Financial Services Advisors Inc. boosted its position in shares of MAG Silver by 6.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 63,884 shares of the company’s stock worth $665,000 after buying an additional 3,950 shares during the period. Azarias Capital Management L.P. acquired a new stake in MAG Silver during the 4th quarter worth about $8,420,000. Veracity Capital LLC grew its stake in 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 acquiring an additional 5,551 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in shares of MAG Silver by 12.2% in the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 29,400 shares of the company’s stock valued at $307,000 after purchasing an additional 3,200 shares during the period. Finally, Crown Wealth Group LLC purchased a new stake in shares of MAG Silver in the fourth quarter worth approximately $118,000. 52.50% of the stock is currently owned by institutional investors and hedge funds.

MAG Silver Trading Down 1.6 %

Shares of MAG stock traded down $0.21 on Friday, hitting $13.19. The company’s stock had a trading volume of 640,842 shares, compared to its average volume of 555,567. The firm has a market cap of $1.36 billion, a PE ratio of 23.55 and a beta of 1.12. MAG Silver Corp. has a fifty-two week low of $8.19 and a fifty-two week high of $14.30.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.04. As a group, analysts forecast that MAG Silver Corp. will post 0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. StockNews.com raised shares of MAG Silver to a “sell” rating in a research report on Wednesday, March 27th. HC Wainwright reissued a “buy” rating and set a $17.00 target price on shares of MAG Silver in a research note on Thursday, May 16th. Stifel Nicolaus upped their price target on shares of MAG Silver from $20.25 to $20.50 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. Scotiabank lifted their price objective on MAG Silver from $13.50 to $14.50 and gave the company a “sector outperform” rating in a research report on Thursday, May 23rd. Finally, Ventum Cap Mkts downgraded MAG Silver from a “buy” rating to a “neutral” rating in a research note on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $18.88.

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.