BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 7,113 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 13.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,047 shares of the company’s stock after selling 7,113 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in MAG Silver were worth $634,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MAG. Allspring Global Investments Holdings LLC acquired a new stake in MAG Silver in the 2nd quarter valued at about $9,932,000. TD Asset Management Inc increased its holdings in shares of MAG Silver by 118.3% in the second quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock valued at $12,415,000 after purchasing an additional 576,156 shares in the last quarter. Van ECK Associates Corp raised its position in MAG Silver by 4.8% in the 3rd quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after purchasing an additional 467,817 shares during the last quarter. Intact Investment Management Inc. acquired a new position in MAG Silver during the 2nd quarter worth $3,151,000. Finally, The Manufacturers Life Insurance Company boosted its position in MAG Silver by 199.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock valued at $5,374,000 after buying an additional 254,553 shares during the last quarter. Institutional investors own 52.50% of the company’s stock.

MAG Silver Stock Performance

MAG Silver stock opened at $15.33 on Friday. The company has a market cap of $1.58 billion, a P/E ratio of 21.59 and a beta of 1.07. MAG Silver Corp. has a fifty-two week low of $8.19 and a fifty-two week high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings results 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. Analysts expect that MAG Silver Corp. will post 0.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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