Oppenheimer & Co. Inc. Sells 1,904 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

Oppenheimer & Co. Inc. cut its stake in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 0.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 453,969 shares of the company’s stock after selling 1,904 shares during the period. Oppenheimer & Co. Inc. owned about 0.44% of MAG Silver worth $6,374,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp increased its position in shares of MAG Silver by 4.8% during the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after acquiring an additional 467,817 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in shares of MAG Silver by 6.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 2,517,445 shares of the company’s stock worth $26,584,000 after buying an additional 153,274 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of MAG Silver in the 1st quarter worth about $22,518,000. TD Asset Management Inc grew its position in MAG Silver by 118.3% during the second quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock valued at $12,415,000 after buying an additional 576,156 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in MAG Silver during the second quarter worth about $9,932,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

MAG Silver Stock Up 2.9 %

Shares of MAG stock opened at $15.19 on Friday. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 20.77 and a beta of 1.12. 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, topping analysts’ consensus estimates of $0.20 by $0.02. On average, equities analysts predict that MAG Silver Corp. will post 0.72 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on MAG. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. HC Wainwright increased their price objective on MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday. Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and lifted their target price for the company from $17.00 to $17.50 in a report on Thursday, October 24th. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, Scotiabank raised their price target on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, MAG Silver has an average rating of “Hold” and a consensus price target of $18.38.

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.