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

Jennison Associates LLC cut its stake in MAG Silver Corp. (NYSEAMERICAN:MAG) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 492,536 shares of the company’s stock after selling 1,116 shares during the quarter. Jennison Associates LLC owned about 0.48% of MAG Silver worth $5,125,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MAG. Duality Advisers LP purchased a new position in MAG Silver during the fourth quarter valued at approximately $255,000. HTLF Bank bought a new position in shares of MAG Silver in the fourth quarter worth $291,000. Crown Wealth Group LLC bought a new position in shares of MAG Silver in the fourth quarter worth $118,000. DORCHESTER WEALTH MANAGEMENT Co raised its position in shares of MAG Silver by 12.2% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 29,400 shares of the company’s stock worth $307,000 after buying an additional 3,200 shares in the last quarter. Finally, Veracity Capital LLC boosted its stake in MAG Silver by 50.0% during the fourth quarter. Veracity Capital LLC now owns 16,654 shares of the company’s stock valued at $173,000 after buying an additional 5,551 shares during the period. 52.50% of the stock is currently owned by institutional investors.

MAG Silver Price Performance

Shares of MAG opened at $12.97 on Friday. MAG Silver Corp. has a fifty-two week low of $8.19 and a fifty-two week high of $13.62. The company has a market capitalization of $1.34 billion, a PE ratio of 27.60 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last issued its earnings results on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Equities research analysts expect that MAG Silver Corp. will post 0.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

MAG Silver 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.