Quantbot Technologies LP Makes New Investment in MAG Silver Corp. (NYSEAMERICAN:MAG)

Quantbot Technologies LP bought a new stake in shares of MAG Silver Corp. (NYSEAMERICAN:MAG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,693 shares of the company’s stock, valued at approximately $52,000.

Other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings 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 buying an additional 467,817 shares during the last quarter. TD Asset Management Inc raised its holdings in MAG Silver by 118.3% in the 2nd quarter. TD Asset Management Inc now owns 1,063,055 shares of the company’s stock worth $12,415,000 after acquiring an additional 576,156 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in MAG Silver in the 2nd quarter valued at approximately $9,932,000. Gabelli Funds LLC increased its holdings in shares of MAG Silver by 12.2% in the 2nd quarter. Gabelli Funds LLC now owns 459,000 shares of the company’s stock worth $5,357,000 after purchasing an additional 50,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of MAG Silver by 199.7% in the third quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after purchasing an additional 254,553 shares during the last quarter. 52.50% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

MAG Silver Trading Down 1.5 %

NYSEAMERICAN MAG opened at $15.11 on Friday. The firm has a market cap of $1.56 billion, a P/E ratio of 21.31 and a beta of 1.07. MAG Silver Corp. has a fifty-two week low of $8.19 and a fifty-two week high of $18.27.

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