JPMorgan Chase & Co. Grows Stock Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

JPMorgan Chase & Co. lifted its holdings in MAG Silver Corp. (NYSEAMERICAN:MAG) by 69.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 456,335 shares of the company’s stock after purchasing an additional 186,445 shares during the period. JPMorgan Chase & Co. owned about 0.44% of MAG Silver worth $6,407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in MAG Silver in the third quarter worth about $28,000. Quantbot Technologies LP bought a new position in shares of MAG Silver during the 3rd quarter valued at approximately $52,000. Pekin Hardy Strauss Inc. purchased a new stake in MAG Silver in the 3rd quarter worth approximately $140,000. DF Dent & Co. Inc. bought a new stake in MAG Silver during the 3rd quarter worth approximately $140,000. Finally, International Assets Investment Management LLC purchased a new position in MAG Silver during the third quarter valued at approximately $148,000. Hedge funds and other institutional investors own 52.50% of the company’s stock.

MAG Silver Trading Up 2.1 %

Shares of MAG stock opened at $14.97 on Thursday. 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 $1.55 billion, a PE ratio of 21.08 and a beta of 1.07.

MAG Silver (NYSEAMERICAN:MAG) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02. As a group, analysts predict that MAG Silver Corp. will post 0.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Roth Capital cut shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. StockNews.com upgraded MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. HC Wainwright boosted their price objective on MAG Silver from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Roth Mkm cut MAG Silver from a “buy” rating to a “neutral” rating and increased their target price for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, MAG Silver currently has a consensus rating of “Hold” and a consensus target price of $18.38.

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.