BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $634,000 Stock Holdings in MAG Silver Corp. (NYSEAMERICAN:MAG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 13.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,047 shares of the company’s stock after selling 7,113 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in MAG Silver were worth $634,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MAG. Van ECK Associates Corp boosted its position in MAG Silver by 4.8% during the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock worth $143,649,000 after purchasing an additional 467,817 shares during the period. TD Asset Management Inc lifted its stake in shares of MAG Silver by 118.3% in the second quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock worth $12,415,000 after buying an additional 576,156 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of MAG Silver during the 2nd quarter worth $9,932,000. Gabelli Funds LLC grew its stake in MAG Silver by 12.2% in the 2nd quarter. Gabelli Funds LLC now owns 459,000 shares of the company’s stock valued at $5,357,000 after buying an additional 50,000 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in MAG Silver by 199.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after acquiring an additional 254,553 shares during the period. Institutional investors own 52.50% of the company’s stock.

MAG Silver Price Performance

Shares of NYSEAMERICAN MAG opened at $15.33 on Friday. The firm has a market capitalization of $1.58 billion, a P/E ratio of 21.59 and a beta of 1.07. MAG Silver Corp. has a one year low of $8.19 and a one year high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Equities analysts anticipate that MAG Silver Corp. will post 0.75 EPS for the current year.

Analysts Set New Price Targets

MAG has been the topic of several research analyst reports. Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Scotiabank raised their target price on MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a report on Monday, August 19th. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. HC Wainwright raised their price objective on shares of MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Roth Mkm cut shares of MAG Silver from a “buy” rating to a “neutral” rating and upped their target price for the company from $17.00 to $17.50 in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.