Stifel Financial Corp bought a new position in MAG Silver Corp (NYSEAMERICAN:MAG) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,616 shares of the company’s stock, valued at approximately $137,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in MAG Silver by 4.4% in the 3rd quarter. Van ECK Associates Corp now owns 4,271,770 shares of the company’s stock worth $47,972,000 after purchasing an additional 181,120 shares during the period. Commonwealth Bank of Australia boosted its stake in MAG Silver by 13.4% in the 3rd quarter. Commonwealth Bank of Australia now owns 2,226,940 shares of the company’s stock worth $24,952,000 after purchasing an additional 263,140 shares during the period. Royal Bank of Canada boosted its stake in MAG Silver by 7.8% in the 2nd quarter. Royal Bank of Canada now owns 1,078,841 shares of the company’s stock worth $14,068,000 after purchasing an additional 77,927 shares during the period. Franklin Resources Inc. boosted its stake in MAG Silver by 1.6% in the 2nd quarter. Franklin Resources Inc. now owns 1,048,000 shares of the company’s stock worth $13,689,000 after purchasing an additional 16,000 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in MAG Silver by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 943,245 shares of the company’s stock worth $10,772,000 after purchasing an additional 17,739 shares during the period.
MAG Silver Corp (NYSEAMERICAN MAG) opened at $12.61 on Friday. The company has a market capitalization of $1,050.00, a P/E ratio of -19.40 and a beta of 0.40. MAG Silver Corp has a 52-week low of $10.05 and a 52-week high of $16.78.
Several research firms have weighed in on MAG. Raymond James Financial restated an “outperform” rating on shares of MAG Silver in a research note on Tuesday, November 21st. BMO Capital Markets began coverage on MAG Silver in a research note on Friday, November 17th. They issued a “buy” rating for the company. HC Wainwright set a $19.00 price target on MAG Silver and gave the stock a “buy” rating in a research note on Thursday, November 16th. BidaskClub downgraded MAG Silver from a “sell” rating to a “strong sell” rating in a research note on Wednesday, November 15th. Finally, Zacks Investment Research downgraded MAG Silver from a “hold” rating to a “sell” rating in a research report on Saturday, November 11th. Two analysts have rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $16.60.
MAG Silver Company Profile
MAG Silver Corp. is a mineral exploration and development company. The Company is focused on the acquisition, exploration and development of projects located within the Mexican silver belt. The Company operates through the exploration of mineral properties in Mexico segment. The Company’s projects include Juanicipio Property, Cinco De Mayo Property and Guigui Property.
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