MAG Silver Corp. (NYSEAMERICAN:MAG) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 1.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,600 shares of the company’s stock after selling 1,579 shares during the period. CIBC Asset Management Inc’s holdings in MAG Silver were worth $1,599,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Perritt Capital Management Inc. acquired a new stake in MAG Silver during the 1st quarter worth $26,000. Capital Performance Advisors LLP purchased a new stake in shares of MAG Silver in the third quarter valued at about $28,000. Addenda Capital Inc. acquired a new stake in shares of MAG Silver during the second quarter worth about $123,000. International Assets Investment Management LLC purchased a new position in shares of MAG Silver during the third quarter worth about $148,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in MAG Silver in the 2nd quarter valued at about $161,000. 52.50% of the stock is owned by hedge funds and other institutional investors.

MAG Silver Price Performance

Shares of MAG Silver stock opened at $15.78 on Wednesday. MAG Silver Corp. has a 12-month low of $8.19 and a 12-month high of $18.27. The stock has a market capitalization of $1.63 billion, a price-to-earnings 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. As a group, sell-side analysts predict that MAG Silver Corp. will post 0.71 earnings per share for the current year.

Analysts Set New Price Targets

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

MAG Silver Company 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.