Raymond James & Associates Sells 11,407 Shares of MAG Silver Corp. (NYSEAMERICAN:MAG)

Raymond James & Associates cut its position in MAG Silver Corp. (NYSEAMERICAN:MAG) by 5.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 196,463 shares of the company’s stock after selling 11,407 shares during the quarter. Raymond James & Associates’ holdings in MAG Silver were worth $2,045,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MAG. Advisor Group Holdings Inc. increased its stake in shares of MAG Silver by 73.4% in the first quarter. Advisor Group Holdings Inc. now owns 24,835 shares of the company’s stock valued at $394,000 after buying an additional 10,513 shares during the period. Cetera Advisor Networks LLC acquired a new stake in shares of MAG Silver in the first quarter valued at about $219,000. BlackRock Inc. increased its stake in shares of MAG Silver by 1.0% in the first quarter. BlackRock Inc. now owns 670,578 shares of the company’s stock valued at $10,843,000 after buying an additional 6,578 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of MAG Silver by 115.8% in the first quarter. Dimensional Fund Advisors LP now owns 307,218 shares of the company’s stock valued at $4,968,000 after buying an additional 164,859 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of MAG Silver by 7.9% in the first quarter. Vanguard Group Inc. now owns 54,836 shares of the company’s stock valued at $886,000 after buying an additional 4,024 shares during the period. 52.50% of the stock is currently owned by institutional investors.

MAG Silver Stock Down 1.1 %

Shares of MAG Silver stock opened at $11.75 on Wednesday. MAG Silver Corp. has a 52 week low of $8.19 and a 52 week high of $13.70. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 24.99 and a beta of 1.15.

MAG Silver (NYSEAMERICAN:MAG) last announced its quarterly earnings data on Tuesday, March 19th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. As a group, research analysts predict that MAG Silver Corp. will post 0.47 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on MAG. Stifel Nicolaus decreased their target price on MAG Silver from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 20th. StockNews.com raised MAG Silver to a “sell” rating in a research note on Wednesday, March 27th. HC Wainwright decreased their target price on MAG Silver from $19.50 to $16.00 and set a “buy” rating for the company in a research note on Thursday, April 4th. Finally, Scotiabank raised MAG Silver from a “sector perform” rating to a “sector outperform” rating and decreased their target price for the stock from $15.00 to $13.50 in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.00.

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.