JPMorgan Chase & Co. Boosts Holdings in MAG Silver Corp. (NYSEAMERICAN:MAG)

JPMorgan Chase & Co. grew its position in MAG Silver Corp. (NYSEAMERICAN:MAG) by 69.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 456,335 shares of the company’s stock after purchasing an additional 186,445 shares during the period. JPMorgan Chase & Co.’s holdings in MAG Silver were worth $6,407,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in MAG Silver during the 3rd quarter valued at $28,000. Veracity Capital LLC lifted its position in shares of MAG Silver by 16.8% during the third quarter. Veracity Capital LLC now owns 16,653 shares of the company’s stock worth $234,000 after purchasing an additional 2,396 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of MAG Silver during the third quarter valued at $52,000. Pekin Hardy Strauss Inc. purchased a new stake in shares of MAG Silver during the third quarter valued at $140,000. Finally, DF Dent & Co. Inc. bought a new position in shares of MAG Silver in the third quarter worth about $140,000. Institutional investors own 52.50% of the company’s stock.

MAG Silver Stock Performance

NYSEAMERICAN MAG opened at $14.97 on Thursday. The company has a market cap of $1.55 billion, a PE ratio of 21.08 and a beta of 1.07. MAG Silver Corp. has a 52-week low of $8.19 and a 52-week high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last announced its earnings results on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.02. On average, equities analysts predict that MAG Silver Corp. will post 0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MAG shares. Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Roth Mkm lowered MAG Silver from a “buy” rating to a “neutral” rating and boosted their price target for the company from $17.00 to $17.50 in a report on Thursday, October 24th. HC Wainwright increased their price objective on MAG Silver from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, StockNews.com raised MAG Silver from a “sell” rating to a “hold” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.