Van ECK Associates Corp Decreases Stock Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

Van ECK Associates Corp lowered its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 2.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,763,593 shares of the company’s stock after selling 218,007 shares during the period. Van ECK Associates Corp owned approximately 0.09% of MAG Silver worth $113,958,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Intact Investment Management Inc. purchased a new position in MAG Silver in the second quarter valued at about $3,151,000. Allspring Global Investments Holdings LLC acquired a new position in MAG Silver during the 2nd quarter worth $9,932,000. Corundum Trust Company INC bought a new stake in shares of MAG Silver in the 2nd quarter worth about $329,000. Addenda Capital Inc. acquired a new stake in shares of MAG Silver in the 2nd quarter valued at about $123,000. Finally, Tidal Investments LLC bought a new position in shares of MAG Silver during the first quarter worth about $22,518,000. 52.50% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MAG has been the topic of a number of research analyst reports. Scotiabank increased their target price on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a report on Monday, August 19th. HC Wainwright lifted their price objective on shares of MAG Silver from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Stifel Nicolaus increased their target price on shares of MAG Silver from $20.25 to $20.50 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, Ventum Cap Mkts lowered shares of MAG Silver from a “buy” rating to a “neutral” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.38.

MAG Silver Stock Down 1.4 %

Shares of MAG stock traded down $0.19 during trading hours on Friday, reaching $13.04. The stock had a trading volume of 383,362 shares, compared to its average volume of 731,171. The stock has a market cap of $1.34 billion, a PE ratio of 23.29 and a beta of 1.12. MAG Silver Corp. has a twelve month low of $8.19 and a twelve month high of $14.30.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. Equities analysts forecast that MAG Silver Corp. will post 0.65 EPS for the current fiscal year.

About MAG Silver

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.