Strategic Financial Concepts LLC Takes $240,000 Position in MAG Silver Corp. (NYSEAMERICAN:MAG)

Strategic Financial Concepts LLC bought a new position in MAG Silver Corp. (NYSEAMERICAN:MAG) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,680 shares of the company’s stock, valued at approximately $240,000.

Other large investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in MAG Silver by 4.8% during the third quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after acquiring an additional 467,817 shares during the period. Tidal Investments LLC boosted its stake in MAG Silver by 3.6% during the 3rd quarter. Tidal Investments LLC now owns 2,810,051 shares of the company’s stock valued at $39,453,000 after purchasing an additional 98,312 shares during the period. JPMorgan Chase & Co. boosted its stake in MAG Silver by 69.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 456,335 shares of the company’s stock valued at $6,407,000 after purchasing an additional 186,445 shares during the period. The Manufacturers Life Insurance Company grew its holdings in MAG Silver by 199.7% in the 3rd 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, PCJ Investment Counsel Ltd. increased its position in MAG Silver by 38.1% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock worth $5,196,000 after buying an additional 101,870 shares during the period. Institutional investors own 52.50% of the company’s stock.

MAG Silver Stock Up 4.2 %

Shares of MAG stock opened at $16.91 on Thursday. The firm has a market capitalization of $1.75 billion, a PE ratio of 23.82 and a beta of 1.09. MAG Silver Corp. has a 52-week low of $8.19 and a 52-week high of $18.27.

MAG Silver (NYSEAMERICAN:MAG) last posted its quarterly earnings results 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, equities research analysts forecast that MAG Silver Corp. will post 0.75 earnings per share for the current year.

Wall Street Analyst Weigh In

MAG has been the topic of several research analyst reports. StockNews.com upgraded shares of MAG Silver from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Roth Mkm lowered shares of MAG Silver from a “buy” rating to a “neutral” rating and raised their price target for the stock from $17.00 to $17.50 in a research report on Thursday, October 24th. Roth Capital lowered shares of MAG Silver from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Finally, HC Wainwright increased their target price on shares of MAG Silver from $20.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, MAG Silver presently has an average rating of “Hold” and a consensus price target of $18.63.

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.