BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 8,028 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its position in MAG Silver Corp. (NYSEAMERICAN:MAG) by 13.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,160 shares of the company’s stock after selling 8,028 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in MAG Silver were worth $609,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MAG. Tidal Investments LLC purchased a new stake in MAG Silver in the first quarter valued at about $22,518,000. Allspring Global Investments Holdings LLC purchased a new position in shares of MAG Silver in the 2nd quarter valued at approximately $9,932,000. Van ECK Associates Corp boosted its stake in MAG Silver by 7.5% in the 1st quarter. Van ECK Associates Corp now owns 9,981,600 shares of the company’s stock worth $105,603,000 after purchasing an additional 696,140 shares in the last quarter. Azarias Capital Management L.P. grew its position in MAG Silver by 73.7% during the 1st quarter. Azarias Capital Management L.P. now owns 1,405,136 shares of the company’s stock worth $14,866,000 after purchasing an additional 596,283 shares during the last quarter. Finally, TD Asset Management Inc increased its stake 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 purchasing an additional 576,156 shares in the last quarter. Institutional investors own 52.50% of the company’s stock.

MAG Silver Trading Down 4.4 %

MAG stock opened at $14.59 on Monday. MAG Silver Corp. has a 12 month low of $8.19 and a 12 month high of $15.54. The firm has a market capitalization of $1.51 billion, a PE ratio of 26.05 and a beta of 1.14.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. On average, research analysts expect that MAG Silver Corp. will post 0.68 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on MAG shares. 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 research note on Monday, August 5th. Scotiabank lifted their price target on MAG Silver from $14.50 to $15.50 and gave the stock a “sector outperform” rating in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, MAG Silver has an average rating of “Hold” and a consensus target price of $18.00.

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.