DORCHESTER WEALTH MANAGEMENT Co Decreases Holdings in MAG Silver Corp. (NYSEAMERICAN:MAG)

DORCHESTER WEALTH MANAGEMENT Co reduced its stake in MAG Silver Corp. (NYSEAMERICAN:MAG) by 7.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 32,525 shares of the company’s stock after selling 2,600 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in MAG Silver were worth $458,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in MAG. Veracity Capital LLC raised its stake in shares of MAG Silver by 16.8% in the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock valued at $234,000 after buying an additional 2,396 shares during the period. Perritt Capital Management Inc. purchased a new stake in MAG Silver during the first quarter valued at about $26,000. Gamco Investors INC. ET AL increased its stake in shares of MAG Silver by 15.0% in the first quarter. Gamco Investors INC. ET AL now owns 44,970 shares of the company’s stock worth $476,000 after purchasing an additional 5,850 shares in the last quarter. Private Advisor Group LLC raised its position in shares of MAG Silver by 29.0% in the first quarter. Private Advisor Group LLC now owns 32,230 shares of the company’s stock valued at $341,000 after purchasing an additional 7,244 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in MAG Silver by 8.7% in the 2nd quarter. CIBC Asset Management Inc now owns 115,179 shares of the company’s stock worth $1,345,000 after buying an additional 9,173 shares during the period. Hedge funds and other institutional investors own 52.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. HC Wainwright lifted their target price on MAG Silver from $17.00 to $18.00 and gave the company a “buy” rating in a report on Monday, August 5th. Roth Mkm cut shares of MAG Silver from a “buy” rating to a “neutral” rating and increased their target price for the stock from $17.00 to $17.50 in a research note on Thursday. Finally, Scotiabank boosted their price target on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, MAG Silver presently has an average rating of “Hold” and a consensus price target of $17.88.

MAG Silver Price Performance

MAG Silver stock traded down $0.35 during mid-day trading on Thursday, hitting $17.45. 187,126 shares of the company traded hands, compared to its average volume of 719,844. The firm has a market cap of $1.80 billion, a PE ratio of 30.69 and a beta of 1.15. MAG Silver Corp. has a one year low of $8.19 and a one year high of $18.01.

MAG Silver (NYSEAMERICAN:MAG) last announced its earnings results on Friday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. As a group, research analysts anticipate that MAG Silver Corp. will post 0.69 earnings per share for the current year.

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.