PCJ Investment Counsel Ltd. Buys 101,870 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

PCJ Investment Counsel Ltd. lifted its stake in MAG Silver Corp. (NYSEAMERICAN:MAG) by 38.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 369,290 shares of the company’s stock after buying an additional 101,870 shares during the quarter. MAG Silver comprises 1.6% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 17th biggest holding. PCJ Investment Counsel Ltd. owned 0.36% of MAG Silver worth $5,196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MAG. Tidal Investments LLC bought a new stake in MAG Silver during the 1st quarter valued at approximately $22,518,000. Allspring Global Investments Holdings LLC purchased a new position in MAG Silver during the 2nd quarter valued at approximately $9,932,000. TD Asset Management Inc grew its holdings in MAG Silver by 118.3% during the 2nd 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 in the last quarter. Van ECK Associates Corp grew its holdings in MAG Silver by 4.8% during the 3rd quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after buying an additional 467,817 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new position in MAG Silver during the 1st quarter valued at approximately $3,925,000. Institutional investors own 52.50% of the company’s stock.

Analyst Upgrades and Downgrades

MAG has been the subject of a number of recent research reports. Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $17.00 to $17.50 in a report on Thursday, October 24th. HC Wainwright boosted their price objective on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Roth Capital cut MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Scotiabank boosted their price objective on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. Finally, StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, MAG Silver has a consensus rating of “Hold” and an average target price of $18.38.

MAG Silver Price Performance

Shares of NYSEAMERICAN:MAG opened at $15.78 on Wednesday. MAG Silver Corp. has a 52-week low of $8.19 and a 52-week high of $18.27. The stock has a market capitalization of $1.63 billion, a PE ratio of 22.23 and a beta of 1.12.

MAG Silver (NYSEAMERICAN:MAG) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. As a group, equities analysts predict that MAG Silver Corp. will post 0.71 earnings per share for the current fiscal 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.