27,692 Shares in MAG Silver Corp. (NYSEAMERICAN:MAG) Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new stake in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 27,692 shares of the company’s stock, valued at approximately $390,000.

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

Wall Street Analyst Weigh In

Several research firms recently commented on MAG. StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a report on Thursday, October 24th. HC Wainwright lifted their target price on shares of MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Roth Capital downgraded shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Finally, Roth Mkm cut shares of MAG Silver from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $17.00 to $17.50 in a report on Thursday, October 24th. Four 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, MAG Silver has a consensus rating of “Hold” and an average price target of $18.38.

MAG Silver Stock Down 0.3 %

Shares of NYSEAMERICAN MAG opened at $13.83 on Friday. The firm has a market capitalization of $1.43 billion, a P/E ratio of 19.48 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 released its earnings results on Tuesday, November 12th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. Equities research analysts expect that MAG Silver Corp. will post 0.75 earnings per share for the current 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.