Geode Capital Management LLC Sells 758 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

Geode Capital Management LLC lessened its stake in MAG Silver Corp. (NYSEAMERICAN:MAG) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 48,843 shares of the company’s stock after selling 758 shares during the period. Geode Capital Management LLC’s holdings in MAG Silver were worth $690,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp raised its position in MAG Silver by 4.8% during the 3rd quarter. Van ECK Associates Corp now owns 10,231,410 shares of the company’s stock valued at $143,649,000 after purchasing an additional 467,817 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of MAG Silver by 199.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 382,027 shares of the company’s stock worth $5,374,000 after buying an additional 254,553 shares during the last quarter. Mackenzie Financial Corp grew 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 worth $2,224,000 after buying an additional 144,007 shares during the last quarter. PCJ Investment Counsel Ltd. boosted its stake in MAG Silver by 38.1% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 369,290 shares of the company’s stock valued at $5,196,000 after purchasing an additional 101,870 shares during the last quarter. Finally, Gabelli Funds LLC boosted its stake in MAG Silver by 12.2% during the 2nd quarter. Gabelli Funds LLC now owns 459,000 shares of the company’s stock valued at $5,357,000 after purchasing an additional 50,000 shares during the last quarter. Institutional investors own 52.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MAG. Roth Mkm downgraded MAG Silver from a “buy” rating to a “neutral” rating and increased their target price for the company from $17.00 to $17.50 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 increased 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. Finally, Roth Capital downgraded MAG Silver from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $18.38.

MAG Silver Trading Down 1.8 %

MAG stock opened at $14.04 on Friday. MAG Silver Corp. has a 1 year low of $8.19 and a 1 year high of $18.27. The firm has a market capitalization of $1.45 billion, a PE ratio of 19.77 and a beta of 1.07.

MAG Silver (NYSEAMERICAN:MAG) last announced its 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. On average, equities research analysts expect that MAG Silver Corp. will post 0.75 earnings per share for the current fiscal year.

About MAG Silver

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.