PCJ Investment Counsel Ltd. Boosts Stake in MAG Silver Corp. (NYSEAMERICAN:MAG)

PCJ Investment Counsel Ltd. raised its holdings in MAG Silver Corp. (NYSEAMERICAN:MAG) by 38.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 369,290 shares of the company’s stock after purchasing an additional 101,870 shares during the quarter. MAG Silver accounts for 1.6% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 17th largest holding. PCJ Investment Counsel Ltd.’s holdings in MAG Silver were worth $5,196,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Perritt Capital Management Inc. acquired a new stake in shares of MAG Silver in the first quarter valued at $26,000. Capital Performance Advisors LLP acquired a new stake in shares of MAG Silver in the third quarter valued at $28,000. Addenda Capital Inc. acquired a new stake in shares of MAG Silver in the second quarter valued at $123,000. International Assets Investment Management LLC acquired a new stake in shares of MAG Silver in the third quarter valued at $148,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in MAG Silver during the 2nd quarter worth $161,000. Hedge funds and other institutional investors own 52.50% of the company’s stock.

MAG Silver Stock Up 0.4 %

MAG Silver stock opened at $15.78 on Wednesday. MAG Silver Corp. has a fifty-two week low of $8.19 and a fifty-two week high of $18.27. The stock has a market capitalization of $1.63 billion, a PE ratio of 22.23 and a beta of 1.12.

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

Analyst Ratings Changes

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

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.