UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 19,904 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) by 12.9% during the third quarter, HoldingsChannel reports. The firm owned 134,564 shares of the company’s stock after selling 19,904 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in MAG Silver were worth $1,889,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its stake in shares of MAG Silver by 310.5% in the 2nd quarter. Mackenzie Financial Corp now owns 190,385 shares of the company’s stock valued at $2,224,000 after purchasing an additional 144,007 shares in the last quarter. Van ECK Associates Corp lifted its stake in 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 purchasing an additional 467,817 shares during the last quarter. PCJ Investment Counsel Ltd. boosted its position in MAG Silver by 38.1% during the third quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock valued at $5,196,000 after buying an additional 101,870 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of MAG Silver by 199.7% during the third 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 last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of MAG Silver by 304.8% during the second quarter. Cubist Systematic Strategies LLC now owns 25,569 shares of the company’s stock valued at $299,000 after buying an additional 19,253 shares during the last quarter. Institutional investors own 52.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MAG. HC Wainwright boosted their target price on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Roth Capital cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Roth Mkm downgraded shares of MAG Silver from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $17.00 to $17.50 in a research note on Thursday, October 24th. Finally, Scotiabank increased their price target on shares of MAG Silver from $14.50 to $15.50 and gave the company a “sector outperform” rating in a research report on Monday, August 19th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.38.

MAG Silver Price Performance

NYSEAMERICAN MAG opened at $14.94 on Monday. MAG Silver Corp. has a fifty-two week low of $8.19 and a fifty-two week high of $18.27. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 21.04 and a beta of 1.07.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly 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. As a group, research analysts expect that MAG Silver Corp. will post 0.75 earnings per share for the current year.

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.